Ernexa secures $6M in second closing under securities purchase agreement

Ernexa Therapeutics (ERNA) announced that the Company completed the second closing under the previously announced securities purchase agreement entered into on March 31, 2025 with certain accredited investors. The company issued 3,181,145 shares of common stock and 622,134 prefunded warrants and received approximately $6M in gross proceeds from the issuance of such securities. The initial closing under the SPA was on April 2, 2025, where the company issued 662,269 shares of common stock and 33,983 prefunded warrants for approximately $1.1M in gross proceeds. A remaining subscription amount under the SPA of $190,248 for 121,255 shares of common stock has not yet been received. The second closing was subject to stockholder approval, as required under applicable Nasdaq listing rules, which was obtained at the company’s 2025 Annual Meeting of Stockholders held on June 2, 2025. The Company intends to use the net proceeds for general working capital purposes and to repay certain notes. The pre-funded warrants will be exercisable until exercised in full at a nominal exercise price of $0.075 per share and may not be exercised to the extent such exercise would cause the holder to beneficially own more than 4.99% or 9.99%, as applicable, of the Company’s outstanding common stock. All share and per share amounts have been adjusted to reflect a 1-for-15 reverse stock split effected on June 12, 2025.