NetworkNewsBreaks – Scinai Immunotherapeutics Lt
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Posted On: 08/20/2024 4:17:01 PM
NetworkNewsBreaks – Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) Enters Into $2M Investment Commitment Agreement with Its Largest Existing Shareholder
Scinai Immunotherapeutics (NASDAQ: SCNI), a biopharmaceutical company focused on developing inflammation and immunology (“I&I”) biological products and providing CDMO services through its Scinai Bioservices business unit, has entered into a $2 million Investment Commitment Agreement with RK Stone Miami LLC, an affiliate of the largest shareholder of the company, Mr. Daniel Stone. Under the terms of the agreement, Scinai may issue and sell ASDs to the investor, from time to time through December 31, 2024, for an aggregate purchase price of up to $2 million. The agreement does not require the company to register for resale the ADSs to be issued under the agreement.
NOTE TO INVESTORS: The latest news and updates relating to SCNI are available in the company’s newsroom at https://nnw.fm/SCNI
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Scinai Immunotherapeutics (NASDAQ: SCNI), a biopharmaceutical company focused on developing inflammation and immunology (“I&I”) biological products and providing CDMO services through its Scinai Bioservices business unit, has entered into a $2 million Investment Commitment Agreement with RK Stone Miami LLC, an affiliate of the largest shareholder of the company, Mr. Daniel Stone. Under the terms of the agreement, Scinai may issue and sell ASDs to the investor, from time to time through December 31, 2024, for an aggregate purchase price of up to $2 million. The agreement does not require the company to register for resale the ADSs to be issued under the agreement.
NOTE TO INVESTORS: The latest news and updates relating to SCNI are available in the company’s newsroom at https://nnw.fm/SCNI
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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