Company: IMNN
Filing Date: 2025-05-19
Form Type: S-1/A
Source: 0001641172-25-011388
Chunk: 43

Company: Imunon, Inc.
Filing Date: 2025-05-19
Form: S-1/A
Chunk 43
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 subject to a limitation on the aggregate number of shares of Common Stock potentially issuable in this offering of 90,000,000 shares of Common Stock. The number of shares issuable on the exercise of the common warrants under the zero exercise price provision increases as the stock price declines. Accordingly, it is highly unlikely that a holder of the common warrants would wish to pay an exercise price in cash to receive one share of Common Stock when they could instead choose the zero exercise price option and pay no cash to receive three shares of Common Stock. As a result, we will likely not receive, and do not expect to receive, any additional funds upon the exercise of the common warrants.

Stockholder Approval

The exercisability of the common warrants will be available only upon receipt of Stockholder Approval, including such stockholder approval as may be required by the applicable rules and regulations of Nasdaq, including, but not limited to, with respect to such approval as may be required by the applicable rules and regulations of Nasdaq from the stockholders of the Company and board of directors of the Company: (a) to consent to any adjustment to the exercise price and/or number of shares of Common Stock underlying the common warrants in the event of an adjustment upon the Adjustment Date (as defined below) pursuant to the terms of the common warrants, (b) to consent to any adjustment to the exercise price of the common warrants in the event of a voluntary adjustment pursuant to the terms of the common warrants, and (c) to consent to the “zero exercise price” provision of the common warrants. We have agreed to hold a meeting to obtain Stockholder Approval as soon as practicable following the closing of this offering, but no later than sixty (60) days following the closing of this offering, and further agreed to cause an additional stockholder meeting to be held every ninety (90) days thereafter until such Stockholder Approval is obtained. We cannot assure you that we will be able to obtain requisite Stockholder Approval. In the event that we are unable to obtain Stockholder Approval, the common warrants will not be exercisable and therefore will have no value.

Fundamental Transaction

In the event of a fundamental transaction, as described in the common warrants and generally including merger or consolidation of the Company or the sale of all or substantially all of the Company’s capital stock or assets, the holders of the common warrants will be entitled to receive upon exercise of the common warrants the kind and amount of securities, cash or other property that the holders would have received had they exercised the common