Soligenix (NASDAQ: SNGX) secures $7.5M equity unit financing

Rhea-AI Filing Summary

Soligenix, Inc. entered into a securities purchase agreement for a public equity offering consisting of common stock, pre-funded warrants and common warrants. The company agreed to sell 4,064,080 shares of common stock, pre-funded warrants to purchase 1,491,480 shares, and common warrants to purchase 5,555,560 shares, sold in units. Each common stock unit with a common warrant was priced at $1.35, and each pre-funded warrant unit with a common warrant at $1.349, with the common warrants exercisable at $1.35 per share for five years.

The offering closed with aggregate gross proceeds of approximately $7.5 million before fees and expenses, which the company states extends its cash runway through the end of 2026. Soligenix plans to use the net proceeds for research, development and commercialization activities and general corporate and working capital purposes. The company agreed to a 60-day lock-up on new issuances and a one-year restriction on variable rate transactions, and also reduced the exercise price of certain existing warrants to $1.35 and aligned their expiration with the new warrants.

Insights

Biotech capital markets analyst

Soligenix raises $7.5M, extending cash runway to end of 2026 while adding warrant overhang and near-term issuance restrictions.

Soligenix completed a public unit offering combining 4,064,080 common shares, 1,491,480 pre-funded warrants and 5,555,560 common warrants, priced around $1.35 per unit. Gross proceeds of approximately $7.5 million are expected to fund research, development, commercialization and general corporate uses, and the company states this extends its cash runway through the end of 2026. This meaningfully shores up near-term liquidity for a development-stage company.

The structure introduces additional potential equity overhang through both the new common warrants and the amended May 2023, April 2024 and July 2024 warrants, which now share a reduced exercise price of $1.35 and the same expiration as the new warrants. The company also accepted a 60-day restriction on issuing new securities and a one-year prohibition on variable rate transactions, with an exception for an at-the-market program after day 60, which shapes how any further capital needs could be addressed.

Net proceeds are reduced by a 6.5% placement fee on the gross amount plus specified legal and expense reimbursements of $75,000 and non-accountable expenses of $15,000. Subsequent disclosures on how the extended cash runway supports specific clinical or commercialization milestones, and any future warrant exercises at the $1.35 level, will help clarify the longer-term balance between funding and dilution.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): September 25, 2025

Commission File No. 001-14778

Soligenix, Inc.

(Exact name of small business issuer as specified in its charter)

DELAWARE		41-1505029
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification Number)
29 Emmons Drive, Suite B-10 Princeton, NJ		08540
(Address of principal executive offices)		(Zip Code)

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(609) 538-8200

(Issuer’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $.001 per share		SNGX		The Nasdaq Capital Market

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 1.01 Entry into a Material Definitive Agreement

On September 25, 2025, Soligenix, Inc., a Delaware corporation (the “Company”) entered into a Securities Purchase Agreement with certain investors (the “Investors”), pursuant to which the Company agreed to issue and sell to the Investors in a public offering (the “Offering”) (i) 4,064,080 shares of the Company’s common stock, (ii) pre-funded warrants to purchase 1,491,480 shares of the Company’s common stock and (iii) common warrants to purchase 5,555,560 shares of the Company’s common stock. The shares of common stock, or pre-funded warrants in lieu thereof, and the common warrants, were sold in units, with each unit consisting of one share of common stock or one pre-funded warrant in lieu thereof and one common warrant. Each unit comprised of common stock and common warrants was sold at a per unit price of $1.35. Each unit comprised of pre-funded warrants and common warrants was sold at a per unit price of $1.349, which represents the same per unit price less the $0.001 per share exercise price of the pre-funded warrants. The common warrants are exercisable at a price of $1.35 per share and have a five-year term.

The Securities Purchase Agreement contains customary conditions to closing, representations and warranties of the Company, and termination rights of the parties, as well as certain indemnification obligations of the Company and ongoing covenants of the Company. Pursuant to the Securities Purchase Agreement, the Company has also agreed not to offer, issue, sell, contract to sell, or grant any option for the sale of or otherwise dispose of the Company’s securities for a period of 60 days following the closing of the Offering. The Company has further agreed not to enter into any variable rate transaction for a period of one year following the closing of the Offering; provided, however, that this restriction does not apply with respect to an at-the-market offering from the 60^th day following the closing date of the Offering.

The Company also agreed that certain existing May 2023, April 2024 and July 2024 warrants (together, the “Existing Warrants”) to purchase an aggregate of 1,162,064 shares of common stock will be amended such that the Existing Warrants will have a reduced exercise price of $1.35 per share and shall expire commensurate with the warrants sold in the Offering.

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The Offering closed on September 29, 2025. The aggregate gross proceeds from the Offering are approximately $7.5 million before deducting placement agent fees and other offering expenses payable by the Company. This funding extends the Company’s cash runway through the end of 2026, providing sufficient funds for anticipated key inflection points. The Company currently intends to use the net proceeds from the Offering to fund research, development and commercialization activities, and for general corporate and working capital purposes, which may include, among other things, working capital, product development and/or commercialization, acquisitions, capital expenditures, repayment of debt and other business opportunities.

A.G.P./Alliance Global Partners acted as the sole placement agent (the “Placement Agent”) on a “reasonable best efforts” basis in connection with the Offering pursuant to a Placement Agency Agreement, dated September 25, 2025, by and between the Company and the Placement Agent (the “Placement Agency Agreement”). Pursuant to the Placement Agency Agreement, the Company paid the Placement Agent a cash fee of six and one-half percent (6.5%) of the gross proceeds of the Offering. The Company also paid expenses of accountable legal fees and other reasonable and documented out-of-pocket expenses incurred by the Placement Agent in connection with the Offering in the amount of $75,000, and non-accountable expenses equal to $15,000.

The shares of common stock, the pre-funded warrants, and the common warrants and the shares of common stock underlying the warrants and pre-funded warrants were offered and sold pursuant to the Company’s Registration Statement on Form S-1 (Registration No. 333-290413), which was initially filed on September 19, 2025, and declared effective on September 25, 2025 by the Securities and Exchange Commission (the “SEC”).

The foregoing descriptions of the Placement Agency Agreement, Securities Purchase Agreement, pre-funded warrant, and common warrant do not purport to be complete and are qualified in their entirety by reference to the Placement Agency Agreement, Securities Purchase Agreement, pre-funded warrant, and common warrant, which are filed as

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Exhibit 4.1, 4.2, 10.1 and 10.2, respectively, to this Current Report on Form 8-K. The representations, warranties and covenants contained in the Placement Agency Agreement, Securities Purchase Agreement, pre-funded warrant, and common warrant were made only for purposes of such agreements and as of specific dates, were solely for the benefit of the parties thereto, and may be subject to limitations agreed upon by the contracting parties. Accordingly, the Placement Agency Agreement, Securities Purchase Agreement, pre-funded warrant, and common warrant are filed herewith only to provide information regarding the terms of such agreements, and not to provide any other factual information regarding the Company or its business, and should be read in conjunction with the disclosures in the Company’s periodic reports and other filings with the SEC.

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Item 8.01. Other Events.

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On September 26, 2025, the Company issued a press release announcing the Offering, and, on September 29, 2025, the Company issued a press release announcing the closing of the Offering. A copy of these press releases are attached to this Current Report on Form 8-K as Exhibit 99.1 and Exhibit 99.2 and are incorporated herein by reference.

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Item 9.01. Financial Statements and Exhibits.

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(d)     Exhibits.

Exhibit No.		Description
4.1	​	Form of Pre-Funded Warrant.
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4.2	​	Form of Common Warrant.
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10.1	​	Placement Agency Agreement dated September 25, 2025.
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10.2	​	Securities Purchase Agreement dated September 25, 2025.
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99.1	​	Press Release dated September 26, 2025.
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99.2	​	Press Release dated September 29, 2025.
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104	​	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURE

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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	Soligenix, Inc.
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September 29, 2025	By:	/s/ Christopher J. Schaber
		Christopher J. Schaber, Ph.D.
​	​	President and Chief Executive Officer
​	​	(Principal Executive Officer)

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FAQ

What type of financing did Soligenix (SNGX) complete?

Soligenix completed a public unit offering under a securities purchase agreement, selling common stock, pre-funded warrants and common warrants together in units to investors.

How much capital did Soligenix (SNGX) raise in this offering?

The company raised aggregate gross proceeds of approximately $7.5 million before deducting placement agent fees and other offering expenses.

What securities did Soligenix (SNGX) issue in the offering?

The company agreed to issue 4,064,080 shares of common stock, pre-funded warrants to purchase 1,491,480 shares of common stock, and common warrants to purchase 5,555,560 shares of common stock.

What are the pricing and terms of the Soligenix (SNGX) units and warrants?

Each common stock unit with a common warrant was priced at $1.35, and each pre-funded warrant unit with a common warrant at $1.349. The common warrants are exercisable at $1.35 per share and have a five-year term.

How will Soligenix (SNGX) use the proceeds from the offering?

Soligenix currently intends to use the net proceeds to fund research, development and commercialization activities and for general corporate and working capital purposes, including working capital, product development and/or commercialization, acquisitions, capital expenditures, repayment of debt and other business opportunities.

Did Soligenix (SNGX) agree to any restrictions on future financings?

Yes. The company agreed not to offer or sell its securities for 60 days after closing and not to enter into any variable rate transaction for one year, except that an at-the-market offering is permitted starting on the 60th day after closing.

What happened to Soligenixs existing warrants in connection with this deal?

Certain May 2023, April 2024 and July 2024 warrants, covering an aggregate of 1,162,064 shares of common stock, were amended to reduce their exercise price to $1.35 per share and to set their expiration to be commensurate with the warrants sold in the new offering.