Company: IMNN
Filing Date: 2025-05-13
Form Type: 8-K
Source: 0001641172-25-009775
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Company: Imunon, Inc.
Filing Date: 2025-05-13
Form: 8-K
Item: Item 1.01
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Item 1.01

Entry into Material Definitive Agreement

On
May 12, 2025, Imunon, Inc. (the “ Company”) entered into an exchange agreement (the “ Agreement”) with the holders
(the “ Warrant Holders”) of certain warrants of the Company (the “ Warrants”) issued on August 1, 2024, which are
exercisable for an aggregate of 5,000,000 shares of the Company’s common stock, par value $0.01 per share (“ Common Stock”).
Pursuant to the terms of the Agreement, the Company will issue to the Warrant Holders an aggregate of 2,921,000 shares of Common
Stock (the “ Warrant Exchange Shares”), on a one-for-one basis, in exchange for shares issuable under the Warrants (the “ Warrant
Exchange”), in reliance on an exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended
(the “ Securities Act”). Pursuant to the Agreement, the Warrant Holders also agreed to waive the Company’s compliance
with the provisions of Section 4.12(b) of the Securities Purchase Agreement, dated July 30, 2024, with respect to any Company Variable
Rate Transaction (as defined in the Purchase Agreement) for a period of forty-five (45) days from the date of the Agreement and agreed
to a lock up period on the Warrant Exchange Shares ending on the opening of trading on May 14, 2025. The Warrant Exchange is expected
to close on May 13, 2025. The number of Warrant Exchange Shares that will be issued pursuant to the Agreement will represent 19.98%
of the shares of Common Stock outstanding as of the date of the Agreement.

The
foregoing summary of the Agreement does not purport to be complete and is qualified in its entirety by reference to the form of Agreement,
a copy of which is filed as Exhibit 10.1

Item 3.02 Unregistered Sales of Equity Securities