Company: INMB
Filing Date: 2025-03-07
Form Type: 424B5
Source: 0001213900-25-021719
Chunk: 16

Company: Inmune Bio, Inc.
Filing Date: 2025-03-07
Form: 424B5
Chunk 16
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ing estimated offering expenses payable by us, the investor in this offering can expect an immediate dilution of $5.67 per share. See “Dilution.”

<div align='center'>S-7

USE OF PROCEEDS</div>

We estimate that the net proceeds
from this offering, after estimated offering expenses payable by us assuming exercise of all of the Warrants for cash, will be approximately
$29.9 million. There can be no assurance that any or all of the Warrants will be exercised.

Unless otherwise indicated
in a prospectus supplement, we intend to use the net proceeds from this offering to fund an open-label RDEB clinical trial in
the US and UK using CORDStrom, to support CMC activities including cGMP commercial scale manufacturing, and to advance regulatory
work for BLA and MAA submissions for CORDStrom, to complete the Phase II AD trial of XPro, to continue the INKmune
program, and for general corporate purposes, working capital, other research and development, and manufacturing.

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

If you purchase shares of
our common stock in this offering, your interest will be diluted to the extent of the difference between the offering price per share
(representing the average exercise price of the Warrants) and the pro forma as adjusted net tangible book value per share of our common
stock after this offering. We calculate net tangible book value per share by dividing our net tangible assets (tangible assets less total
liabilities) by the number of shares of our common stock issued and outstanding as of September 30, 2024.

Our historical net tangible
book value as of September 30, 2024 was approximately $22.2 million or approximately $1.00 per share of our common stock, based upon 22,172,451
shares outstanding as of such date. After giving effect to the sale of 3,898,852 shares of our common stock, and after deducting
estimated offering expenses payable by us, our as adjusted net tangible book value at September 30, 2025, would have been approximately
$52.1 million, or $2.00 per share. This represents an immediate increase in net tangible book value of approximately $1.00 per share to
our existing stockholders, and an immediate dilution of $5.67 per share to investors purchasing shares in the offering.

The following table illustrates the per share dilution