Company: IMNN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022120
Chunk: 11

Company: Imunon, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 11
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Securities Act”). Pursuant to the Agreement, the Warrant Holders also agreed
to waive the Company’s compliance with the provisions of Section 4.12(b) of the Securities Purchase Agreement, dated July 30, 2024,
with respect to any Company Variable Rate Transaction (as defined in the Purchase Agreement) for a period of forty-five (45) days from
the date of the Agreement and agreed to a lock up period on the Warrant Exchange Shares ending on the opening of trading on May 14, 2025.
The Warrant Exchange closed on May 13, 2025. The number of Warrant Exchange Shares that will be issued pursuant to the Agreement will
represent 19.98% of the shares of Common Stock outstanding as of the date of the Agreement.

May
2025 Offering

On
May 23, 2025, the Company entered into a Securities Purchase Agreement with certain institutional and accredited investors, for the issuance
and sale in a private placement of (i) 185,186 shares of the Company’s common stock, (ii) 296,297 of pre-funded warrants at an
exercise price of $0.0001 per share and (iii) 962,964 warrants at an exercise price of $6.75 per share for gross proceeds of approximately
$3.3 million before the deduction of placement agent fees and offering expenses.

The
Prefunded Warrants became exercisable immediately after issuance for a term of two and one-half years following the date of issuance.
The Warrants will be exercisable upon receipt of such approval as may be required by the applicable rules and regulations of the Nasdaq
Stock Market (or any successor entity) from the stockholders of the Company with respect to issuance of all of the Warrants and the shares
of Common Stock upon the exercise thereof (“Stockholder Approval,” and such date, the “Stockholder Approval Date”)
and have a term of three years. The prefunded warrants were exercised in full on June 16, 2025 and June 18, 2025.

In
addition, the Company issued to H.C. Wainwright & Co., LLC warrants (the “Placement Agent Warrants”) to purchase up to
an aggregate of 24,075 shares of common stock at an exercise price equal to $8.44 per share. The Placement Agent Warrants have substantially
the same terms as the Warrants. The closing of the May 2025 Offering occurred on May