Company: AEMD
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001683168-25-000960
Chunk: 52

Company: AETHLON MEDICAL INC
Filing Date: 2025-02-12
Form: 10-Q
Item: Item 8
Chunk 52
---
arrants are not subject to an exercise price reset, are non-exercisable until November 15, 2024, and will
expire on May 15, 2029.

The gross proceeds from
the offering, before deducting the placement agent’s fees and other offering expenses, were approximately $4.7 million. Net proceeds,
of the offering, after deducting the placement agent fees and expenses and other offering expenses payable by us, were approximately
$3.5 million.

The shares of common
stock, the Class A and Class B warrants, the pre-funded warrants and the Placement Agent Warrants described above and the underlying shares
of common stock were offered pursuant to a Registration Statement on Form S-1, as amended (File No. 333-278188), which was declared effective
by the SEC on May 15, 2024.

Warrant Exercises

In June 2024, and holders
of Class A and Class B warrants exercised 300,000 shares and 2,880,000 shares, respectively, for additional proceeds to the Company of
$1,844,400.

Restricted Stock Unit Grants 

On April 16, 2024, our Board of Directors approved,
pursuant to the terms of the Director Compensation Policy, the grant of the annual RSUs under the Director Compensation Policy to each
of the four non-employee directors of the Company then serving on the Board of Directors. The Director Compensation Policy provides for
a grant of stock options or $50,000 worth of RSUs at the beginning of each fiscal year for current non-employee directors then serving
on the Board of Directors, and for a grant of stock options or $75,000 worth of RSUs for a newly elected non-employee director, with each
RSU priced at the average of the closing prices for the five trading days preceding and including the date of grant, or $1.52 per share
for the RSUs granted in April 2024. As a result, in April 2024, the four eligible directors were each granted 32,894 RSUs under the Company’s
2020 Equity Incentive Plan, as amended (the “2020 Plan”). The RSUs are subject to vesting in four equal installments, with
25% of the restricted stock units vesting on each of June 30, 2024, September 30, 2024, December 31, 2024, and March 31, 2025,