Sellas Life Sciences announces exercise of warrants for $31M in proceeds

SELLAS Life Sciences (SLS) announced the immediate exercise of warrants, previously issued in March and August 2024, to purchase up to 22,363,714 shares of its common stock for gross cash proceeds of approximately $31M. In consideration for the immediate exercise in full of the Existing Warrants, the investor will receive new registered warrants to purchase up to 22,363,714 shares of its common stock at an exercise price of $2.00, will be exercisable immediately and will expire five years from the date of issuance. The closing of this transaction is expected to occur on or about October 28, 2025, subject to satisfaction of customary closing conditions. A.G.P./Alliance Global Partners and Maxim Group acted as financial advisors in connection with the transaction.