Company: IMNN
Filing Date: 2025-05-27
Form Type: 8-K
Source: 0001641172-25-012395
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Company: Imunon, Inc.
Filing Date: 2025-05-27
Form: 8-K
Item: Item 1.01
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Item      Entry                                  

On
May 23, 2025, Imunon, Inc. (the “ Company”) entered into a securities purchase agreement (the “ Purchase Agreement”)
with certain institutional and accredited investors (each, a “ Purchaser” and collectively, the “ Purchasers”)
for the issuance and sale in a private placement (the “ Private Placement”) of (i) 2,777,779 shares (the “ Shares”)
of the Company’s common stock, par value $0.01 per share (“ Common Stock”), (ii) pre-funded warrants (the “ Pre-Funded
Warrants”) to purchase up to 4,444,444 shares of Common Stock at an exercise price of $0.0001 per share, and (iii) warrants (the
“ Warrants”) to purchase up to 14,444,446 shares of Common Stock at an exercise price of $0.45 per share. The Private Placement
was priced at the market at a combined purchase price per Share and accompanying Warrant of $0.45. The closing of the Private Placement
is expected to occur on or about May 27, 2025.

The
aggregate gross proceeds to the Company from the Private Placement were approximately $3.25 million, prior to deducting placement agent
fees and estimated offering expenses payable by the Company. The Company would receive an additional approximate $6.5 million
in aggregate gross proceeds if all of the Warrants were exercised via a cash exercise. The Company plans to use the proceeds from the
Private Placement for working capital and general corporate purposes.

The
Prefunded Warrants will be exercisable from the date of issuance until exercised in full. The Warrants will be exercisable upon receipt
of such approval as may be required by the applicable rules and regulations of the Nasdaq Stock Market (or any successor entity) from
the stockholders of the Company with respect to issuance of all of the Warrants and the shares of Common Stock upon the exercise thereof
(“ Stockholder Approval,” and such date, the “ Stockholder Approval Date”) and have a term of three years from
the Stockholder Approval Date. Further, the Company agreed to hold a stockholder meeting on or prior to the date that is 90 days following
the closing date of the Private Placement for the purpose of obtaining Stockholder Approval, with the recommendation of the Company’s
Board of Directors that such proposals are approved, and the Company will solicit proxies from its stock