XTL Biopharma unit placed into court-ordered liquidation

XTL Biopharmaceuticals Ltd. reports that an Israeli court has formally opened insolvency proceedings for its wholly owned subsidiary, The Social Proxy Ltd., under Israel’s Insolvency and Economic Rehabilitation Law, 2018.

Rhea-AI Filing Summary

XTL Biopharmaceuticals Ltd. reports that an Israeli court has formally opened insolvency proceedings for its wholly owned subsidiary, The Social Proxy Ltd., under Israel’s Insolvency and Economic Rehabilitation Law, 2018. After determining that Social Proxy is insolvent and has no reasonable prospect of economic rehabilitation, the court ordered its liquidation and appointed a trustee to oversee the process.

The company is assessing how this liquidation will affect it, including the recoverability of an approximately $1.5 million loan it had extended to Social Proxy. XTL describes itself as an IP portfolio company that owns 100% of Social Proxy and has sublicensed an IP portfolio related to hCDR1 for the treatment of lupus (SLE).

Positive

• None.

Negative

• Court-ordered liquidation of key subsidiary – An Israeli court opened insolvency proceedings for wholly owned subsidiary The Social Proxy Ltd., found no reasonable prospect of rehabilitation, and ordered liquidation, removing this web data business from XTL’s structure.
• Potential loss on $1.5 million intercompany loan – XTL is evaluating whether it can recover an approximately $1.5 million loan it extended to Social Proxy, implying a risk of impairment or write-off if liquidation proceeds are insufficient.

Insights

Cross-border restructuring and credit analyst

Subsidiary liquidation raises credit risk on a $1.5M intercompany loan.

The Israeli court has opened insolvency proceedings for The Social Proxy Ltd. and ordered its liquidation after finding no reasonable prospect of rehabilitation. This removes a web data business from XTL Biopharmaceuticals’ structure and places control with a court-appointed trustee.

XTL is now evaluating the impact, explicitly highlighting an approximately $1.5 million loan it extended to Social Proxy and its ability to recover that amount. Depending on recoveries from the liquidation estate, this loan may be impaired, which would weigh on XTL’s balance sheet.

The filing does not quantify Social Proxy’s overall contribution or XTL’s broader exposure, so the financial effect hinges on how material the $1.5 million loan is relative to XTL’s size. Subsequent 6-K or 20-F disclosures will likely clarify any write-downs or restructuring charges.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did XTL Biopharmaceuticals Ltd. disclose in its February 2026 Form 6-K?

XTL Biopharmaceuticals disclosed that an Israeli court opened insolvency proceedings for its wholly owned subsidiary, The Social Proxy Ltd., ordered its liquidation, and appointed a trustee. XTL is assessing how this impacts the company, including the recoverability of a roughly $1.5 million intercompany loan.

What happened to XTL Biopharmaceuticals’ subsidiary The Social Proxy Ltd.?

The Social Proxy Ltd., a wholly owned Israeli subsidiary of XTL Biopharmaceuticals, was placed into court-ordered insolvency proceedings. The court determined the company is insolvent, found no reasonable prospect of rehabilitation, and ordered full liquidation under Israel’s Insolvency and Economic Rehabilitation Law, 2018.

How much exposure does XTL Biopharmaceuticals have to The Social Proxy’s insolvency?

XTL Biopharmaceuticals highlighted an approximately $1.5 million loan it extended to The Social Proxy Ltd. The company is evaluating whether it can recover this amount through the court-supervised liquidation process, which could affect its financial statements if impaired.

What type of company is XTL Biopharmaceuticals Ltd. (NASDAQ: XTLB)?

XTL Biopharmaceuticals describes itself as an IP portfolio company. It owns 100% of The Social Proxy Ltd., a web data company, and has sublicensed an IP portfolio around hCDR1 for treating lupus (SLE). Its shares trade on Nasdaq and the Tel Aviv Stock Exchange.

Which law governs the insolvency proceedings of The Social Proxy Ltd.?

The insolvency proceedings for The Social Proxy Ltd. are governed by Israel’s Insolvency and Economic Rehabilitation Law, 2018. Under this law, the court opened proceedings, found the subsidiary insolvent, concluded rehabilitation wasn’t feasible, and ordered liquidation with a trustee appointment.

Is XTL Biopharmaceuticals evaluating the impact of The Social Proxy’s liquidation?

Yes. XTL Biopharmaceuticals states it is evaluating the effects of The Social Proxy’s insolvency and liquidation on the broader company, specifically focusing on a roughly $1.5 million loan it extended to the subsidiary and its ability to recover that loan through the process.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/23/2026 - 04:05 PM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

For the month of February 2026

Commission File Number: 001-36000

XTL Biopharmaceuticals Ltd. 

(Translation of registrant’s name into English)

26 Ben Gurion Street

Ramat Gan 5257346, Israel 

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒        Form 40-F ☐

As previously disclosed in the Report of Foreign Private Issuer on Form 6-K filed with the SEC on January 23, 2026, The Social Proxy Ltd., an Israeli company and wholly owned subsidiary of the Company (the “Social Proxy”), filed a formal application with the competent Israeli court for the commencement of insolvency proceedings (Order for the Opening of Proceedings) in accordance with the Israeli Insolvency and Economic Rehabilitation Law, 2018 (the “Insolvency Law”). 

On February 22, 2026, after the court has been satisfied that the application was duly filed and published and that the Social Proxy is insolvent, and after no objection has been filed to the application, the court ordered the opening of insolvency proceedings in all matters concerning the Social Proxy pursuant to the Insolvency Law. In addition, after finding that there is no reasonable prospect for the Social Proxy’s economic rehabilitation, the court ordered the Social Proxy 's liquidation and the appointment of a trustee for the insolvency proceedings.

The Company is evaluating the effects of this event on the Company, including on a loan of approximately $1.5 million that the Company extended to Social Proxy and the ability of the Company to recover on this loan.

About XTL Biopharmaceuticals Ltd. (XTL)

XTL is an IP portfolio company. The Company holds 100% of the share capital of The Social Proxy Ltd., a web data company, and has sublicensed out an IP portfolio surrounding hCDR1 for the treatment of Lupus disease (SLE).

XTL is traded on the Nasdaq Capital Market (NASDAQ: XTLB) and the Tel Aviv Stock Exchange (TASE: XTLB.TA).

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Cautionary Note Regarding Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained in this communication that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of the Company and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, whether to the Company will be able to negotiate and enter into the definitive agreements with respect to the Transaction, whether all conditions precedent in such definitive agreements will be satisfied, whether the closing of such Transaction will occur and whether the Company will achieve its goals. Additional examples of such risks and uncertainties include, but are not limited to (i) the Company’s ability to successfully manage and integrate any joint ventures, acquisitions of businesses, solutions or technologies; (ii) unanticipated operating costs, transaction costs and actual or contingent liabilities; (iii) the ability to attract and retain qualified employees and key personnel; (iv) adverse effects of increased competition on the Company’s future business; (v) the risk that changes in consumer behavior could adversely affect the Company’s business; (vi) the Company’s ability to protect its intellectual property; (vii) the Company’s ability to successfully consummate the acquisition of 85% of the outstanding shares of NeuroNOS Ltd. pursuant to the letter of intent signed by it and Beyond Air, Inc., and, if consummated, to successfully manage and integrate NeuroNos Ltd and (viii) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 20-F and current reports on Form 6-K filed by the Company with the Securities and Exchange Commission. The Company anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. The Company assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing the Company’s plans and expectations as of any subsequent date.

For further information, please contact:

Investor Relations, XTL Biopharmaceuticals Ltd.

Tel: +972 54 2288897

Email: noam@xtlbio.com

www.xtlbio.com

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SIGNATURES

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, thereunto duly authorized.

Date: February 23, 2026	XTL BIOPHARMACEUTICALS LTD.
	By:	/s/ Noam Band
		Noam Band
		Chief Executive Officer

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