Company: IMNN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022120
Chunk: 7

Company: Imunon, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 7
---
 aggregate market value of outstanding Common Stock held by non-affiliates was approximately $79,075,969, based on 2,121,895
shares of Common Stock outstanding as of July 22, 2025, of which 2,100,291 shares were held by non-affiliates, and a price of $37.65
per share, which was the last reported sale price of  Common Stock on The Nasdaq Stock Market LLC (“Nasdaq”) on June 2,
2025. As a result, the Company’s public float increased above $75.0 million, and the Company is  no longer subject to the limitations contained in General
Instruction I.B.6 of Form S-3.

Reverse
Stock Split

On
July 25, 2025, the Company effected a 15-for-1 reverse stock split of its common stock which was made effective for trading purposes
as of 12:01 a.m. ET on July 25, 2025. As of that date, each 15 shares of issued and outstanding common stock and equivalents were consolidated
into one share of common stock. All shares have been restated to reflect the effects of the 15-for-1 reverse stock split. In addition,
at the market open on July 25, 2025, the Company’s common stock started trading under a new CUSIP number 15117N701 although the
Company’s ticker symbol, IMNN, remained unchanged.

    11

The
reverse stock split was previously approved by the Company’s stockholders at the 2025 Annual Meeting held on July 11, 2025, and
the Company subsequently filed a Certificate of Amendment to its Certificate of Incorporation to effect the stock consolidation. The
primary reasons for the reverse stock split and the amendment are:

    ●
    To
    provide the Company with the ability to support its future anticipated growth and would provide greater flexibility to consider and
    respond to future business opportunities and needs as they arise, including equity financings and stock-based acquisitions of new
    technology and product development candidates. The availability of additional shares of Common Stock would permit the Company to
    undertake certain of the foregoing actions without delay and expense associated with holding a Special Meeting of Stockholders to
    obtain stockholder approval each time such an opportunity arises that would require the issuance of shares of Common Stock; and

    ●
    To
continue listing on The NASDAQ Capital Market, which requires that the