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 60th 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.
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
