Company: AEMD
Filing Date: 2025-09-05
Form Type: 424B4
Source: 0001683168-25-006701
Chunk: 46

Company: AETHLON MEDICAL INC
Filing Date: 2025-09-05
Form: 424B4
Chunk 46
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 offering at a combined public offering price of $0.90 per share and accompanying warrant,
assuming no exercise of the warrants or the placement agent’s warrant and after deducting the placement agent fees and estimated
offering expenses payable by us, our as adjusted net tangible book value as of June 30, 2025 would have been approximately $3,423,100,
or approximately $1.32 per share. This represents an immediate decrease in net tangible book value of $0.35 per share to existing stockholders
and an immediate dilution of $0.06 per share to new investors purchasing shares of our common stock and accompanying warrants in this
offering, attributing none of the assumed combined public offering price to the warrants offered hereby. The following table illustrates
this per share dilution:

| Combined public offering price per share and accompanying warrant |     |   |       |   |     | $ | 0.90 |
| Net tangible book value per share as of June 30, 2025             |     | $ |  1.32 |   |     |   |      |
| Increase in net tangible book value per share after this offering |     |   | (0.35 | ) |     |   |      |
| As adjusted net tangible book value per share after this offering |     |   |       |   |     | $ | 0.96 |
| Dilution per share to new investors                               |     |   |       |   |     |   |      |
|                                                                   |     |   |       |   |     | $ | 0.06 |

The discussion and table above
assume (i) no exercise of the placement agent’s warrant or the warrants issued in this offering and (ii) no sale of pre-funded
warrants in this offering.

We may choose to raise additional
capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating
plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance of these
securities could result in further dilution to our stockholders.

The table and discussion
above are based on 2,598,711 shares of our common stock outstanding as of September 3, 2025
and excludes as of such date:

| · | 6,546 shares of common                                                                                                             
 stock issuable upon the exercise of outstanding stock options under our equity incentive plan at a weighted-average exercise price