SELLAS receives $31M from warrant exercise; issues new warrants at $2 strike

SELLAS Life Sciences Group, Inc.

Existing warrants for up to 22,363,714 shares exercised immediately for $31M gross proceeds.
New registered warrants issued for 22,363,714 shares at $2.00, exercisable immediately for five years.
Financial advisors A.G.P. and Maxim Group receive 5.75% of gross proceeds fee plus up to $60K legal reimbursement.
Company restricted for 75 days from issuing equity or filing registration statements; 12-month ban on variable-rate transactions.
Virtual R&D Day on AML scheduled for October 29, 2025.

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