Company: INMB
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003354
Chunk: 659

Company: Inmune Bio, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 5
Chunk 659
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 Offerings

During September 2024, the Company entered into
securities purchase agreements with investors whereby the Company sold 2,341,260 shares of the Company’s common stock
and warrants to purchase an additional 2,341,260 shares of the Company’s common stock exercisable six months from the
issuance date in a registered direct offering in exchange for gross proceeds of $13.0 million (net proceeds of approximately $12.0 million). Directors and
officers that participated in the offering paid a combined offering price of $6.50 per share and warrant, and other investors paid
$5.50 per share and warrant. The exercise price of the warrants is $6.40, and are exercisable beginning on March 16, 2025 and
will terminate on March 16, 2030 unless accelerated pursuant to the terms of the warrant agreements. The Company determined the warrants
were equity classified. The fair value of the warrants was approximately $9.1 million and was calculated using the Black-Scholes
option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 3.41% based on the applicable
US Treasury bill rate (2) expected life of 5.5 years, (3) expected volatility of approximately 92% based on the trading
history of the Company, and (4) zero expected dividends.

During April 2024, the Company entered into a
securities purchase agreement with an investor whereby the Company sold 986,000 shares of the Company’s common stock and
warrants to purchase an additional 986,000 shares of the Company’s common stock in a registered direct offering in exchange
for gross proceeds of approximately $9.7 million (net proceeds of approximately $8.9 million). The exercise price of the warrants
is $9.84 and the term of the warrants is the earlier of (1) April 29, 2026 or (2) thirty trading days following the reporting of
positive top line data in the Phase 2 Alzheimer’s program of XPro1595. The Company determined that the warrants were equity
classified. The fair value of the warrants was approximately $5.8 million and was calculated using the Black-Scholes option-pricing
model. Variables used in the Black-Scholes option-pricing model include: (