Company: IMNN
Filing Date: 2025-05-30
Form Type: PRE 14A
Source: 0001641172-25-013068
Chunk: 51

Company: Imunon, Inc.
Filing Date: 2025-05-30
Form: PRE 14A
Chunk 51
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 of additional authorized shares for issuance from time-to-time in our Board of Directors’ discretion in connection with future financings, investment opportunities, stock splits or dividends, equity incentive plan arrangements or for other corporate purposes is desirable in order to avoid repeated separate amendments to our Amended and Restated Certificate of Incorporation and the delay and expense incurred in holding meetings of the stockholders to approve such amendments.

Potential Adverse Effects of the Authorized Share Increase

The authorization of additional shares of common stock sought by this proposal would not have any immediate dilutive effect upon the proportionate voting power or rights of our existing stockholders; however, to the extent that the additional authorized shares of common stock are issued in the future, including in connection with future capital raising transactions or strategic transactions, such issuance will likely decrease existing stockholders’ percentage equity ownership, be dilutive to existing stockholders and have a negative effect upon the market price of the common stock. Our stockholders do not have any preemptive right to purchase or subscribe for any part of any new or additional issuance of our securities by virtue of their holding shares of our common stock.

Anti-Takeover Effects

The increased proportion of unissued authorized shares compared to issued shares could, under certain circumstances, have an anti-takeover effect (for example, by permitting issuances that would dilute the stock ownership of a person seeking to effect a change in the composition of our Board of Directors or contemplating a tender offer or other transaction for our combination with another company).

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Current Plans, Proposals or Arrangements to Issue Shares of Common Stock

As of May 28, 2025, there were (i) 20,319,511 shares of our common stock were issued and outstanding, (ii) 1,942,351 shares of common stock issuable upon the exercise of outstanding stock options, having a weighted average exercise price of $1.78 per share, (iii) 39,700 shares of common stock issuable upon the vesting of common stock awards, having a weighted average grant date fair value of $0.99 per share, (iv) 2,234,060 shares of common stock issuable upon the exercise of outstanding warrants (other than the Pre-Funded Warrants and Warrants), having a weighted average exercise price of $3.19 per share, (v) 223,522 shares of common stock reserved for future issuance pursuant to our 2018 Plan, (vi) 4,444,444 shares of common stock