Company: IMNN
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009572
Chunk: 12

Company: Imunon, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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”), which limits the amount that the Company can offer to up to one-third of its public float
during any trailing 12-month period. The Company would no longer be subject to the Baby Shelf Limitation if its public float exceeds $75
million.

At the Market Offering Agreement

On May 15, 2024, the Company amended the At the Market
Offering Agreement, dated as of May 25, 2022 (the “ATM Agreement”) with H.C. Wainwright & Co., LLC (“Wainwright”)
as sales agent. Pursuant to the terms of the amended ATM Agreement, the Company may offer and sell, from time to time, through Wainwright,
shares of the Company’s common stock having an aggregate offering price of up to $5,500,000. The Company intends to use the net
proceeds from any offering under the amended ATM Agreement for general corporate purposes, including research and development activities,
capital expenditures and working capital.

On July 30, 2024, the Company notified Wainwright
that it was suspending its use of and terminating the “at the market offering” sales agreement prospectus (the “ATM
Prospectus”), related to the potential issuance from time to time of the Company’s common stock pursuant to the ATM Agreement,
by and between the Company and Wainwright. Notwithstanding the termination of the ATM Prospectus, the ATM Agreement remains in full force
and effect.

On September 3, 2024, the Company filed a new prospectus
supplement to the 2024 Registration Statement with the SEC for an aggregate offering price of up to $5,500,000 related to the potential
issuance from time to time of the Company’s common stock pursuant to the ATM Agreement with Wainwright as sales agent.

The Company sold 88,796 shares of common stock under
the ATM Agreement for net proceeds of $99,506 during 2024. The Company sold 120,047 shares of common stock under the ATM Agreement for
net proceeds of $105,693 during the quarter ended March 31, 2025.

July 2024 Offering

On July 30, 2024, the Company entered into the July
2024 Purchase Agreement with the Purchasers, pursuant to which the Company issued, in a registered direct offering, an aggregate of 5,000,000
shares of the Company’s common stock at an offering price of $2.00 per share