Company: IMNN
Filing Date: 2025-05-30
Form Type: PRE 14A
Source: 0001641172-25-013068
Chunk: 54

Company: Imunon, Inc.
Filing Date: 2025-05-30
Form: PRE 14A
Chunk 54
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 Split using a ratio between, and including, 1:5 and 1:18. Approval of this proposal by the stockholders would give the Board of Directors authority to implement the Reverse Stock Split at any time.

The Board of Directors believes that stockholder approval of a range of potential ratios (rather than a single ratio) provides the Board of Directors with the flexibility to achieve the desired results of the Reverse Stock Split. If the stockholders approve this proposal, the Reverse Stock Split will be effected only upon a determination by the Board of Directors that the Reverse Stock Split is in the best interests of the stockholders at that time, and the Board of Directors, in its discretion, may determine not to proceed with the Reverse Stock Split. In connection with any determination to effect the Reverse Stock Split, the Board of Directors will set the timing for such a split and select the specific ratio from within the range of ratios set forth herein. The Board reserves the right to abandon the Reverse Stock Split without further action by our stockholders at any time before the proposed amendment becomes effective, even if stockholders approve such amendment at the Annual Meeting.

The Reverse Stock Split would affect all holders of our outstanding common stock uniformly and would not affect any stockholder’s percentage ownership or proportionate voting and other rights in our common stock, except for adjustments that might result from the treatment of fractional shares as described below. Pursuant to the Reverse Stock Split Amendment, the number of authorized shares of our common stock would not change and the par value of our common stock would remain unchanged at $0.01 per share. The Reverse Stock Split Amendment would not impact the total authorized number of shares of Preferred Stock or the par value thereof.

Outstanding Shares

Our Certificate of Incorporation currently authorizes us to issue a maximum of 112,500,000 shares of common stock, par value $0.01 per share, and 100,000 shares of preferred stock, $0.01 par value per share. Our issued and outstanding securities as of May 28, 2025 are 20,319,511 shares of common stock. 1

1Excluding 22 shares of treasury stock; 21,484,061 shares of common stock for outstanding warrants to purchase common stock; and 2,205,573 shares of common stock have been reserved for options and stock grants either granted or remaining to be granted.

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As of the Record Date, no shares of the Company’s preferred stock were issued and outstanding.

The table below illustrates the effect