Company: ANIX
Filing Date: 2025-09-10
Form Type: S-3
Source: 0001493152-25-013010
Chunk: 52

Company: Anixa Biosciences Inc
Filing Date: 2025-09-10
Form: S-3
Chunk 52
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 or acquiring companies that are synergistic with or complementary to our technologies, licensing activities related to our current and future product candidates, the development of emerging technologies, investing in or acquiring companies that are developing emerging technologies or the acquisition of other businesses and working capital. While a portion of the net proceeds may be used for the acquisition of businesses, products and technologies that are synergistic or complementary to ours, or for other strategic purposes, we have no current understandings, commitments or agreements to do so. Pending use of the net proceeds, we intend to invest the net proceeds in a manner consistent with the investment policy adopted by the Company’s board of directors.

| S-8 |

<div align='center'>DILUTION</div>

If you invest in our common stock, your interest will be diluted immediately to the extent of the difference between the public offering price per share and the adjusted net tangible book value per share of our common stock after this offering.

Our net tangible book value on July 31, 2025 was approximately $15,209,000, or $0.46 per share. “Net tangible book value” is total assets minus the sum of liabilities and intangible assets. “Net tangible book value per share” is net tangible book value divided by the total number of shares outstanding.

After giving effect to the sale of shares of our common stock in the aggregate amount of $100,000,000 in this offering at an assumed offering price of $2.98 per share, which was the last reported sale price of our common stock on The NASDAQ Capital Market on September 9, 2025, and after deducting estimated offering commissions and expenses payable by us, our net tangible book value as of July 31, 2025 would have been approximately $112,113,000, or $1.69 per share of common stock. This represents an immediate increase in net tangible book value of $1.23 per share to our existing stockholders and an immediate dilution in net tangible book value of $1.29 per share to investors participating in this offering. The following table illustrates this dilution per share to investors participating in this offering:

| Assumed offering price per share                      |     |   |      |     | $ | 2.98 |
| Net tangible book value per share as of July 31, 2025 |     | $ | 0.46 |     |   |      |
| Increase per share attributable to new investors      |     | $ | 1.23 |