Filed Pursuant to Rule 424(b)(3)
Registration No. 333-282218
 
PROSPECTUS SUPPLEMENT NO. 1
(to Prospectus dated September 27, 2024)
 
 
3,384,616 Ordinary Shares
 
This Prospectus Supplement No. 1 updates, amends, and supplements the prospectus dated September 27, 2024 (as amended and supplemented, the “Prospectus”), which forms a part of our Registration Statement on Form F-1 (Registration No. 333- 282218). Capitalized terms used in this prospectus supplement and not otherwise defined herein have the meanings specified in the Prospectus.
 
This prospectus supplement is being filed to update, amend, and supplement the information in the Prospectus with the GAAP financial statements as of, and for the three and nine month periods ended on, September 30, 2024 (the “Q3 2024 financial statements”) included in the press release attached as Exhibit 99.1 to our Report of Foreign Private Issuer on Form 6-K furnished to the Securities and Exchange Commission on November 21, 2024. Accordingly, we have included the Q3 2024 financial statements in this prospectus supplement.
 
This prospectus supplement is not complete without the Prospectus. This prospectus supplement should be read in conjunction with the Prospectus, which is to be delivered with this prospectus supplement, and is qualified by reference thereto, except to the extent that the information in this prospectus supplement updates or supersedes the information contained in the Prospectus. Please keep this prospectus supplement with your Prospectus for future reference.
 
As of the date of this Prospectus, our ordinary shares are listed and trade on the Nasdaq Capital Market under the symbol “EVGN”. The last reported sale price of our ordinary shares on November 20, 2024 was $1.65 per share.
 
Investing in our ordinary shares is highly speculative and involves a high degree of risk. See “Risk Factors” beginning on page 8 of the Prospectus for a discussion of information that should be considered in connection with an investment in our ordinary shares, as well as the risks described under the heading “Item 3 Key Information – D. Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, which we filed with the Securities and Exchange Commission on March 28, 2024, and in other documents incorporated by reference into the Prospectus, and under similar headings in any amendment or supplements to the Prospectus.
 
Neither the U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved these securities, or determined if the Prospectus or this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.
 
The date of this prospectus supplement is November 21, 2024
 
 
 
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 November 2024
 
Commission File Number: 001-36187

EVOGENE LTD.
  (Translation of Registrant’s Name into English)
 
13 Gad Feinstein Street, Park Rehovot
Rehovot 7638517, Israel
(Address of principal executive offices)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
Form 20-F ☒       Form 40-F ☐
 
 
2


CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
U.S. dollars in thousands

   
September 30,
    
December 31,
  
   
2024
    
2023
  
   
Unaudited
        
CURRENT ASSETS:
            
Cash and cash equivalents
  
$
11,317
    
$
20,772
  
Short-term bank deposits
    
8,636
      
10,291
  
Trade receivables
    
1,590
      
357
  
Other receivables and prepaid expenses
    
2,360
      
2,973
  
Inventories
    
1,456
      
76
  
                 
     
25,359
      
34,469
  
LONG-TERM ASSETS:
                
Long-term deposits and other receivables
    
39
      
28
  
Investment accounted for using the equity method
    
95
      
-
  
Right-of-use-assets
    
619
      
980
  
Property, plant and equipment, net
    
1,562
      
2,455
  
Intangible assets, net
    
12,440
      
13,169
  
                 
     
14,755
      
16,632
  
                 
   
$
40,114
    
$
51,101
  
CURRENT LIABILITIES:
                
Trade payables
  
$
1,198
    
$
1,785
  
Employees and payroll accruals
    
2,289
      
2,537
  
Lease liability
    
417
      
853
  
Liabilities in respect of government grants
    
782
      
388
  
Deferred revenues and other advances
    
742
      
362
  
Warrants and pre-funded warrants liability, net
    
6,382
      
-
  
Convertible SAFE
    
10,320
      
-
  
Other payables
    
1,158
      
1,019
  
                 
     
23,288
      
6,944
  
LONG-TERM LIABILITIES:
                
Lease liability
    
269
      
285
  
Liabilities in respect of government grants
    
4,148
      
4,426
  
Deferred revenues and other advances
    
171
      
393
  
Convertible SAFE
    
-
      
10,368
  
                 
     
4,588
      
15,472
  
SHAREHOLDERS' EQUITY:
                
Ordinary shares of NIS 0.2 par value:
Authorized − 15,000,000 ordinary shares; Issued and outstanding – 6,792,746 shares as of September 30, 2024 and 5,079,313 (*) shares as of December 31, 2023
    
301
      
286
  
Share premium and other capital reserve
    
269,854
      
269,353
  
Accumulated deficit
    
(274,498
)
    
(257,586
)
                 
Equity attributable to equity holders of the Company
    
(4,343
)
    
12,053
  
                 
Non-controlling interests
    
16,581
      
16,632
  
                 
   Total equity
    
12,238
      
28,685
  
                 
   
$
40,114
    
$
51,101
  

(*) Shares and per shares amounts have been retroactively adjusted to reflect the reverse stock split.
3

CONSOLIDATED INTERIM STATEMENTS OF PROFIT OR LOSS
U.S. dollars in thousands

   
Nine months ended
September 30,
    
Three months ended
September 30,
    
Year ended
December 31,
  
   
2024
    
2023
    
2024
    
2023
    
2023
  
   
Unaudited
        
                               
Revenues
  
$
6,900
    
$
5,062
    
$
1,796
    
$
3,767
    
$
5,640
  
Cost of revenues
    
1,928
      
1,294
      
1,081
      
511
      
1,692
  
                                         
Gross profit
    
4,972
      
3,768
      
715
      
3,256
      
3,948
  
                                         
Operating expenses:
                                        
                                         
Research and development, net
    
13,247
      
15,232
      
4,430
      
5,063
      
20,777
  
Sales and marketing
    
2,775
      
2,578
      
855
      
850
      
3,611
  
General and administrative
    
6,069
      
4,838
      
2,885
      
1,526
      
6,068
  
Other expenses
    
524
      
-
      
-
      
-
      
-
  
                                         
Total operating expenses, net
    
22,615
      
22,648
      
8,170
      
7,439
      
30,456
  
                                         
Operating loss
    
(17,643
)
    
(18,880
)
    
(7,455
)
    
(4,183
)
    
(26,508
)
                                         
Financing income
    
2,820
      
1,128
      
2,153
      
429
      
1,486
  
Financing expenses
    
(3,198
)
    
(894
)
    
(2,910
)
    
(109
)
    
(965
)
                                         
Financing income (expenses), net
    
(378
)
    
234
      
(757
)
    
320
      
521
  
                                         
Share of loss of an associate
    
(26
)
    
-
      
(6
)
    
-
      
-
  
                                         
Loss before taxes on income
    
(18,047
)
    
(18,646
)
    
(8,218
)
    
(3,863
)
    
(25,987
)
Taxes on income (tax benefit)
    
2
      
(29
)
    
1
      
(5
)
    
(33
)
                                         
Loss
  
$
(18,049
)
  
$
(18,617
)
  
$
(8,219
)
  
$
(3,858
)
  
$
(25,954
)
                                         
Attributable to:
                                        
Equity holders of the Company
    
(16,912
)
    
(17,278
)
    
(7,630
)
    
(3,984
)
    
(23,879
)
Non-controlling interests
    
(1,137
)
    
(1,339
)
    
(589
)
    
126
      
(2,075
)
                                         
   
$
(18,049
)
  
$
(18,617
)
  
$
(8,219
)
  
$
(3,858
)
  
$
(25,954
)
                                         
Basic and diluted loss per share, attributable to equity holders of the Company (*)
  
$
(3.17
)
  
$
(3.91
)
  
$
(1.31
)
  
$
(0.81
)
  
$
(5.20
)
                                         
Weighted average number of shares used in computing basic and diluted loss per share (*)
    
5,327,078
      
4,423,661
      
5,807,128
      
4,913,052
      
4,589,386
  
                                         
(*) Shares and per shares amounts have been retroactively adjusted to reflect the reverse stock split
4

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
U.S. dollars in thousands

   
Nine months ended
September 30,
    
Three months ended
September 30,
    
Year ended
December 31,
  
   
2024
    
2023
    
2024
    
2023
    
2023
  
   
Unaudited
        
    Cash flows from operating activities:
                              
                               
Loss
  
$
(18,049
)
  
$
(18,617
)
  
$
(8,219
)
  
$
(3,858
)
  
$
(25,954
)
                                         
Adjustments to reconcile loss to net cash used in operating activities:
                                        
                                         
Adjustments to the profit or loss items:
                                        
                                         
Depreciation
    
1,182
      
1,223
      
382
      
416
      
1,641
  
Amortization of intangible assets
    
729
      
726
      
245
      
245
      
971
  
Share-based compensation
    
1,478
      
1,764
      
479
      
545
      
1,877
  
Remeasurement of pre-funded warrants and warrants
    
(1,940
)
    
-
      
(1,940
)
    
-
      
-
  
Revaluation of convertible SAFE
    
(48
)
    
177
      
(72
)
    
(43
)
    
254
  
Net financing expenses (income)
    
943
      
(206
)
    
1,165
      
(212
)
    
(666
)
Loss (gain) from sale of property, plant and equipment
    
524
      
(26
)
    
-
      
-
      
(26
)
Excess of initial fair value of pre-funded warrants over transaction proceeds
    
2,684
      
-
      
2,684
      
-
      
-
  
Amortization of deferred expenses related to issuance of warrants
    
137
      
-
      
137
      
-
      
-
  
Share of loss of an associate
    
26
      
-
      
6
      
-
      
-
  
Taxes on income (tax benefit)
    
2
      
(29
)
    
1
      
(5
)
    
(33
)
                                         
     
5,717
      
3,629
      
3,087
      
946
      
4,018
  
Changes in asset and liability items:
                                        
                                         
Increase in trade receivables
    
(1,233
)
    
(997
)
    
(1,214
)
    
(1,167
)
    
(9
)
Decrease (increase) in other receivables
    
601
      
(420
)
    
1,326
      
(504
)
    
(1,445
)
Decrease (increase)  in inventories
    
(1,380
)
    
453
      
(662
)
    
136
      
490
  
Decrease in deferred taxes
    
-
      
-
      
-
      
-
      
94
  
Increase (decrease) in trade payables
    
(534
)
    
179
      
228
      
153
      
742
  
Increase (decrease) in employees and payroll accruals
    
(248
)
    
72
      
(44
)
    
(100
)
    
550
  
Increase (decrease) in other payables
    
139
      
(467
)
    
353
      
(305
)
    
(534
)
Increase (decrease) in deferred revenues and other advances
    
(96
)
    
190
      
(12
)
    
263
      
(288
)
                                         
     
(2,751
)
    
(990
)
    
(25
)
    
(1,524
)
    
(400
)
                                         
Cash received (paid) during the period for:
                                        
                                         
Interest received
    
646
      
433
      
244
      
150
      
905
  
Interest paid
    
(56
)
    
(92
)
    
(15
)
    
(26
)
    
(115
)
Tax paid
    
-
      
(15
)
    
-
      
(5
)
    
(31
)
                                         
    Net cash used in operating activities
  
$
(14,493
)
  
$
(15,652
)
  
$
(4,928
)
  
$
(4,317
)
  
$
(21,577
)

5

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
U.S. dollars in thousands

   
Nine months ended
September 30,
    
Three months ended
September 30,
    
Year ended
December 31,
  
   
2024
    
2023
    
2024
    
2023
    
2023
  
   
Unaudited
        
Cash flows from investing activities:
                              
                               
Purchase of property, plant and equipment
  
$
(304
)
  
$
(699
)
  
$
(132
)
  
$
(216
)
  
$
(785
)
Proceeds from sale of marketable securities
    
-
      
6,924
      
-
      
-
      
6,924
  
Purchase of marketable securities
    
-
      
(503
)
    
-
      
-
      
(503
)
Proceeds from sale of property, plant and aquipment
    
58
      
26
      
48
      
-
      
26
  
Investment in short term bank deposits, net
    
1,110
      
(9,700
)
    
2,100
      
3,860
      
(10,200
)
                                         
Net cash provided by (used in) investing activities
    
864
      
(3,952
)
    
2,016
      
3,644
      
(4,538
)
                                         
Cash flows from financing activities:
                                        
                                         
Issuance of a subsidiary preferred shares to non-controlling interests
    
-
      
9,523
      
-
      
-
      
9,523
  
Proceeds from issuance of ordinary shares, pre-funded warrants and warrants, net of issuance expenses
    
4,854
      
-
      
4,854
      
-
      
-
  
Proceeds from issuance of ordinary shares, net of issuance expenses
    
123
      
8,404
      
37
      
8,068
      
8,449
  
Repayment of lease liability
    
(695
)
    
(624
)
    
(233
)
    
(211
)
    
(836
)
Proceeds from government grants
    
232
      
1,069
      
232
      
(20
)
    
1,089
  
Repayment of government grants
    
(298
)
    
(73
)
    
(156
)
    
(38
)
    
(73
)
                                         
Net cash provided by financing activities
    
4,216
      
18,299
      
4,734
      
7,799
      
18,152
  
                                         
Exchange rate differences - cash and cash equivalent balances
    
(42
)
    
(344
)
    
11
      
(28
)
    
(245
)
                                         
Increase (decrease) in cash and cash equivalents
    
(9,455
)
    
(1,649
)
    
1,833
      
7,098
      
(8,208
)
                                         
Cash and cash equivalents beginning of the period
    
20,772
      
28,980
      
9,484
      
20,233
      
28,980
  
                                         
Cash and cash equivalents end of the period
  
$
11,317
    
$
27,331
    
$
11,317
    
$
27,331
    
$
20,772
  
                                         
Significant non-cash activities:
                                        
                                         
Acquisition of property, plant and equipment, net
  
$
28
    
$
35
    
$
28
    
$
35
    
$
81
  
Increase of right-of-use asset recognized with corresponding lease liability
  
$
279
    
$
135
    
$
95
    
$
-
    
$
194
  
Investment in affiliated Company with corresponding deferred revenues
  
$
120
    
$
-
    
$
-
    
$
-
    
$
-
  

6

SIGNATURE
 
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: November 21, 2024
 
EVOGENE LTD.
(Registrant)

By: /s/ Yaron Eldad
Yaron Eldad
Chief Financial Officer

7
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