Company: ARMP
Filing Date: 2025-08-13
Form Type: S-3
Source: 0001104659-25-077648
Chunk: 38

Company: Armata Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: S-3
Chunk 38
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 to purchase the securities from us at the public offering price
set forth in the prospectus supplement pursuant to delayed delivery contracts providing for payment and delivery on a specified date in
the future. The contracts will be subject only to those conditions set forth in the prospectus supplement, and the prospectus supplement
will set forth any commissions we pay for solicitation of these contracts.

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Agents, dealers and underwriters
may be entitled to indemnification by us against certain civil liabilities, including liabilities under the Securities Act, or to contribution
with respect to payments which the agents, dealers or underwriters may be required to make in respect thereof. Agents, dealers and underwriters
may engage in transactions with, or perform services for us in the ordinary course of business.

All securities we may offer,
other than common stock, will be new issues of securities with no established trading market. Any underwriters may make a market in these
securities, but will not be obligated to do so and may discontinue any market making at any time without notice. We cannot guarantee the
liquidity of the trading markets for any securities.

Any underwriter may engage
in over-allotment, stabilizing transactions, short covering transactions and penalty bids in accordance with Regulation M under the Exchange
Act. Over-allotment involves sales in excess of the offering size, which create a short position. This short sales position may involve
either “covered” short sales or “naked” short sales. Covered short sales are short sales made in an amount not
greater than the underwriters’ over-allotment option to purchase additional securities in the relevant offering. The underwriters
may close out any covered short position either by exercising their over-allotment option or by purchasing securities in the open market.
To determine how they will close the covered short position, the underwriters will consider, among other things, the price of securities
available for purchase in the open market, as compared to the price at which they may purchase securities through the over-allotment option.
Naked short sales are short sales in excess of the over-allotment option. The underwriters must close out any naked short position by
purchasing securities in the open market. A naked short position is more likely to be created if the underwriters are concerned that,
in the open market after pricing, there may be downward pressure on the price of the securities that could adversely affect investors
who purchase securities in the offering. Stabilizing transactions permit