Company: IMNN
Filing Date: 2025-05-19
Form Type: S-1/A
Source: 0001641172-25-011388
Chunk: 63

Company: Imunon, Inc.
Filing Date: 2025-05-19
Form: S-1/A
Chunk 63
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5635(c)(4) of the Nasdaq Listing Rules. On October 7, 2024, we granted: (i) an inducement stock option to purchase 60,000 shares of the Common Stock with an exercise price of $1.02 per share to one individual hired by the Company during the fourth quarter of 2024 and (ii) an inducement stock option to purchase 50,000 shares of the Common Stock with an exercise price of $1.02 per share to Susan Eylward, our General Counsel, in each case as an “inducement” grant pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. On February 18, 2025, we granted an inducement stock option to purchase 100,000 shares of Common Stock with an exercise price of $0.862 to Dr. Douglas Faller, our Chief Medical Officer, as an “inducement” grant pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. The grants of these awards were exempt from registration under the Securities Act, pursuant to Section 4(a)(2) thereof as a transaction by an issuer not involving a public offering.

On May 12, 2025, the Company entered into an exchange agreement (the “ Exchange Agreement”) with the holders (the “Existing Warrant Holders”) of certain warrants of the Company (the “ Existing Warrants”) issued on August 1, 2024, which were exercisable for an aggregate of 5,000,000 shares of Common Stock. Pursuant to the terms of the Exchange Agreement, the Company issued to the Existing Warrant Holders an aggregate of 2,921,000 shares of Common Stock (the “ Warrant Exchange Shares”), on a one-for-one basis, in exchange for shares issuable under the Existing Warrants (the “ Warrant Exchange”). The Warrant Exchange closed on May 13, 2025. The number of Warrant Exchange Shares issued pursuant to the Exchange Agreement represented 19.98% of the shares of Common Stock outstanding as of the date of the Exchange Agreement. The Warrant Exchange was completed, and the Warrant Exchange Shares were issued in reliance on, the exemption from registration provided by Section 3(a)(9) of the Securities Act, on the basis that (a) the Warrant Exchange Shares were issued in exchange for other outstanding securities of the Company; (b) there was no additional consideration delivered by