Company: INMB
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001213900-25-104141
Chunk: 22

Company: Inmune Bio, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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) zero expected dividends.

During April 2024, the Company entered into a
securities purchase agreement with an investor whereby the Company sold 986,000 shares of the Company’s common stock and
warrants to purchase an additional 986,000 shares of the Company’s common stock in a registered direct offering in exchange
for gross proceeds of approximately $9.7 million (net proceeds of approximately $8.9 million). The exercise price of the warrants
is $9.84 and the warrants are exercisable until April 29, 2026. The Company determined that the warrants were equity classified.
The fair value of the warrants was approximately $5.8 million and was calculated using the Black-Scholes option-pricing model. Variables
used in the Black-Scholes option-pricing model include: (1) discount rate of 4.97% based on the applicable US Treasury bill rate
(2) expected life of 2.0 years, (3) expected volatility of approximately 77% based on the trading history of the Company,
and (4) zero expected dividends.

During April 2024, the Company entered into securities
purchase agreements with investors whereby the Company sold 571,592 shares of the Company’s common stock and warrants
to purchase an additional 571,592 shares of the Company’s common stock in a registered direct offering in exchange for
gross proceeds of approximately $4.8 million (net proceeds of approximately $4.5 million). Directors and
officers that participated in the offering paid a combined offering price of $8.445 per share and warrant, and other investors paid
$8.32 per share and warrant. The exercise price of the warrants is $9.152, and the warrants are exercisable for two years from the
issuance dates. The Company determined the warrants were equity classified. The fair value of the warrants was approximately $3.0 million
and was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1)
discount rate of 4.89% based on the applicable US Treasury bill rate (2) expected life of 2.0 years, (3) expected volatility
of approximately 78% based on the trading history of the Company, and (4) zero expected dividends.

14

Common Stock – At the