Silexion Therapeutics Sets 1-for-24 Reverse Stock Split, Effective Nov. 10

Split-adjusted trading on Nasdaq begins at the open on Nov. 11, under the unchanged ticker SLXN.

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Key terms

  • 1-for-24 reverse split; trading split-adjusted at open on Nov. 11 under SLXN
  • Split effective after market close on Nov. 10; new CUSIP G1281K163
  • Par value rises from $0.135 to $3.24 per share; no fractional shares, rounded up for DTC participants
  • Aimed at regaining Nasdaq minimum bid price compliance

Silexion Therapeutics (Nasdaq: SLXN) will carry out a 1-for-24 reverse share split, effective after the close of trading on Nov. 10, the company said in an 8-K filed Monday, Nov. 9.

The Cayman Islands company's ordinary shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market at the open on Nov. 11. The ticker stays SLXN, but the new CUSIP number is G1281K163. The split takes effect automatically, and the company said shareholders do not need to take any action.

Silexion first reported the split approval in an earlier post. Shareholders approved the split on Oct. 26.

What changes for shares

Every 24 ordinary shares will be combined into one. The par value rises from $0.135 to $3.24 per share. No fractional shares will be issued. Holders who are DTC participants and entitled to a fraction will receive a rounded-up whole share. The filing does not give a record date.

The company reported about 5.6 million shares outstanding as of Aug. 13. Dividing by 24 gives roughly 233,000 shares. The last close before the filing was $0.15 on Friday, Nov. 6, and the market value was about $0.8 million on the August share count.

Why the company is doing it

In its press release, Silexion said the split is intended to help it regain compliance with Nasdaq's minimum bid price requirement under Listing Rule 5550(a)(2). The company also said the change is expected to support its market position and facilitate equity financings. It reported $2.2 million in cash and equivalents as of June 30 and is advancing its SIL204 Phase 2/3 trial in locally advanced pancreatic cancer.

Sources

Written with AI from the company's SEC filing and our market data, and checked against those sources before publishing. Our editorial standards.

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