Silexion Therapeutics Corp.

07/21/2025 | Press release | Distributed by Public on 07/21/2025 14:06

Failure to Satisfy Listing Rule (Form 8-K)

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Additional Nasdaq Staff Determination; Nasdaq Hearings Panel Consideration

On July 18, 2025, Silexion Therapeutics Corp (the "Company" or "Silexion") received a letter from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, for the 30 consecutive business days preceding the letter, the closing bid price of the Company's ordinary shares, par value $0.0009 per share ("ordinary shares"), was below the minimum $1.00 per share required for continued listing on The Nasdaq Stock Market LLC under Nasdaq Listing Rule 5550(a)(2) (the "bid price deficiency"). The Staff indicated in the letter that the Nasdaq hearings panel (which had previously ruled regarding the Company's request to remain listed on Nasdaq, as described below) would consider the bid price deficiency in its decision as to whether to enable the Company to remain listed on the Nasdaq Capital Market.

The Nasdaq letter has no immediate effect on the listing of the ordinary shares, which will continue to trade on the Nasdaq Capital Market under the symbol "SLXN" at this time. Additionally, the Staff's letter has no impact on the Company's listed warrants to purchase ordinary shares, which will continue to trade as usual on the Nasdaq Capital Market under the symbol "SLXNW".
As previously reported, following the favorable decision received by the Company from a Nasdaq hearings panel on July 7, 2025 for the hearing held on June 26, 2025, the continued listing of the Company's securities on Nasdaq remains intact, subject to the fulfillment of certain conditions. As part of the hearing process, the Company disclosed to the hearings panel, and the panel noted in its decision, that the Company intends to effect a reverse share split to remedy the bid price deficiency. The ratio for that reverse share split was set by the Company's board of directors at 1-for-15, and the reverse share split was approved by the Company's shareholders at the Company's 2025 annual general meeting that was completed on July 14, 2025. As announced by the Company on July 16, 2025, the effective time of the reverse share split will be after the close of trading on July 28, 2025, and the Company's ordinary shares will begin trading on a reverse split-adjusted basis on the Nasdaq Capital Market at the open of the market on July 29, 2025. After a minimum of 10 consecutive trading days are completed following the prospective reverse share split, assuming that the bid price of the ordinary shares has closed above $1.00 each such trading day, it is expected that the Company will regain compliance with the bid price requirement.

There can be no assurance that Silexion will successfully meet the terms of its compliance plan and/or achieve and maintain compliance with the Equity Standard of the Nasdaq Capital Market by the September 19, 2025 deadline set by the Nasdaq hearings panel. There is furthermore no assurance that Silexion will successfully meet all other standards for listing on the Nasdaq Capital Market even if it initially successfully restores compliance by that deadline.

Silexion Therapeutics Corp. published this content on July 21, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on July 21, 2025 at 20:06 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]