Company: IMNN
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009572
Chunk: 98

Company: Imunon, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 Registration Statement with the SEC for an aggregate offering price of up to $5,500,000 related to the potential
issuance from time to time of the Company’s common stock pursuant to the ATM Agreement with Wainwright as sales agent.

The Company sold 88,796 shares of common stock under
the ATM Agreement for net proceeds of $99,506 during 2024. The Company sold 120,047 shares of common stock under the ATM Agreement for
net proceeds of $105,693 during the quarter ended March 31, 2025.

July 2024 Offering

On July 30, 2024, the Company entered into the July
2024 Purchase Agreement with the Purchasers, pursuant to which the Company issued, in a registered direct offering, an aggregate of 5,000,000
shares of the Company’s common stock at an offering price of $2.00 per share for gross proceeds of $10.0 million before the deduction
of placement agent fees and offering expenses. In a concurrent private placement and also pursuant to the July 2024 Purchase Agreement,
the Company issued to the Purchasers the Warrants to purchase an aggregate of 5,000,000 shares of its common stock at an exercise price
of $2.00 per share.

The Warrants became exercisable immediately after
issuance for a term of five and one-half years following the date of issuance. The closing of the July 2024 Offering occurred on August
1, 2024.

Note 8. Stock-Based Compensation

The Company has long-term compensation plans that
permit the granting of equity-based awards in the form of stock options, restricted stock, restricted stock units, stock appreciation
rights, other stock awards, and performance awards.

In 2018, stockholders approved the Imunon,
Inc. 2018 Stock Incentive Plan (the “2018 Plan”). The 2018 Plan, as amended, permits the granting of 1,970,000
shares of Imunon common stock as equity awards in the form of incentive stock options, nonqualified stock options, restricted stock,
restricted stock units, stock appreciation rights, other stock awards, performance awards, or in any combination of the foregoing.

As of March 31, 2025, there were a total of 1,975,073
shares of Imunon common stock reserved for issuance under the 2018 Plan, which were comprised of 1,751,551 shares of Im