Company: ARMP
Filing Date: 2025-12-01
Form Type: 424B5
Source: 0001104659-25-117382
Chunk: 53

Company: Armata Pharmaceuticals, Inc.
Filing Date: 2025-12-01
Form: 424B5
Chunk 53
---
sell shares of preferred stock and we have no present plans to issue any shares of preferred stock.

Anti-Takeover Effects of Provisions of Our Articles of Incorporation, Our Bylaws and Washington Law

Provisions in our articles
of incorporation, our bylaws and under Washington law may delay or prevent an acquisition of us or a change in our management, including
transactions in which shareholders might otherwise receive a premium for their shares or transactions that our shareholders might otherwise
deem to be in their best interests. Certain of the provisions of our articles of incorporation and bylaws with an anti-takeover effect
are summarized below. These provisions may frustrate or prevent any attempts by our shareholders to replace or remove our current management
by making it difficult for shareholders to replace members of our board of directors, which is responsible for appointing the members
of our management.

Additionally, because we are
incorporated in Washington, we are governed by the provisions of Chapter 23B.19 of the WBCA, which, among other things, prohibits a “target
corporation,” with certain exceptions, from engaging in certain “significant business transactions” for a period of
five years after the share acquisition by an “acquiring person”, unless (a) the significant business transaction is approved
by a majority of the members of the target corporation’s board of directors prior to the time of the acquiring person’s share
acquisition or (b) the significant business transaction was approved by both the majority of the members of the target corporation’s
board of directors and approved at a shareholder meeting by at least two-thirds of the outstanding voting shares (excluding the acquiring
person’s shares or shares over which the acquiring person has voting control) at or subsequent to the acquiring person’s share
acquisition. An “acquiring person” is defined as a person or group of persons which beneficially owns 10% or more of the voting
securities of the target corporation. Such significant business transactions may include, among other things:

| · | any merger or consolidation with, disposition                                      
 of assets to, or issuance or redemption of stock to or from, the acquiring person; |

| · | any termination of 5% or more of the employees                                                               
 of the target corporation as a result of the acquiring person’s acquisition of 10% or more of the shares; or |

| · | allowing the acquiring person to receive any 
 disproportionate benefit as a shareholder.   |

After the five-year period,
a significant business transaction may