Company: IMNN
Filing Date: 2025-06-09
Form Type: DEF 14A
Source: 0001641172-25-014324
Chunk: 57

Company: Imunon, Inc.
Filing Date: 2025-06-09
Form: DEF 14A
Chunk 57
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 Issuance |             |     | Total      
 Authorized |             |
| As of June 4, 2025                     |     |                        | 21,303,358 |     |                                      | 22,705,809 |     |                                        |  68,490,833 |     |            | 112,500,000 |
| Following 5-for-1 Reverse Stock Split  |     |                        |  4,260,672 |     |                                      |  4,541,162 |     |                                        | 103,698,167 |     |            | 112,500,000 |
| Following 10-for-1 Reverse Stock Split |     |                        |  2,130,336 |     |                                      |  2,270,581 |     |                                        | 108,099,083 |     |            | 112,500,000 |
| Following 18-for-1 Reverse Stock Split |     |                        |  1,183,520 |     |                                      |  1,261,434 |     |                                        | 110,055,046 |     |            | 112,500,000 |

The table above does not take into account the treatment of fractional shares.

Reasons for the Reverse Stock Split

The Board believes that the increase in the number of available shares of common stock following the Reverse Stock Split will 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 an Annual or Special Meeting of Stockholders to obtain stockholder approval each time such an opportunity arises that would require the issuance of shares of our common stock.

Further, the Company compensates key employees through equity-based compensation programs. This compensation program is essential to the high-risk nature of the business and provides the ability to align the interests of key employees with stockholders. Without an increase in the number of available shares of common stock, the Company will not be able to recruit, retain and reward key employees, which includes non-employee directors, officers, other employees, consultants, independent contractors and agents.

In addition, the Reverse Stock Split will allow us to attempt to increase the bid price of our common stock by reducing the number of outstanding shares of our common stock.