Moringa Acquisition Corp signs definitive merger with Silexion at $62.5M valuation

Moringa Acquisition Corp

SPAC Moringa (MACA) enters Business Combination Agreement with Israeli oncology firm Silexion Therapeutics; pre-transaction equity value $62.5M.
SPAC sponsor to forfeit 1,567,000 founder shares; closing requires minimum unrestricted cash of $500K.
Silexion must deliver at least $3.5M in convertible loan financing proceeds by March 10, 2024, as a closing condition.
Transaction must close by August 19, 2024; no termination fees payable by either party.
Silexion is a clinical-stage biotech developing therapies for KRAS-mutant solid tumors.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Moringa Acquisition Corp entered into Business Combination Agreement with Silexion Therapeutics Ltd. valued at $62.5 million (effective 2024-02-21).

Action: entry
Agreement: merger
Counterparty: Silexion Therapeutics Ltd.
Value: $62.5 million
Effective: 2024-02-21

Exact text from the filing

On February 21, 2024, Moringa Acquisition Corp, a Cayman Islands exempted company (“ Moringa ”, the “ Company ”, or the “ SPAC ”), together with its wholly-owned Israeli subsidiary (“ Merger Sub ”), entered into a business combination agreement (as the same may be amended, supplemented or otherwise modified from time to time, the “ BCA ”) with Silexion Therapeutics Ltd., an Israeli company (“ Silexion ”).

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Source: SEC EDGAR

accession 0001213900-24-016967

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