Company: IMNN
Filing Date: 2025-05-19
Form Type: S-1/A
Source: 0001641172-25-011388
Chunk: 3

Company: Imunon, Inc.
Filing Date: 2025-05-19
Form: S-1/A
Chunk 3
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holder Approval. “Floor Price” means a price per share equal to $0.10 (based on an assumed public offering price of $0.48 per share), which represents 20% of the public offering price per share. We have agreed to hold a meeting to obtain Stockholder Approval as soon as practicable following the closing of this offering, but no later than sixty (60) days following the closing of this offering, and further agreed to cause an additional stockholder meeting to be held every ninety (90) days thereafter until such Stockholder Approval is obtained. We cannot assure you that we will be able to obtain requisite Stockholder Approval.

*Each common warrant offered hereby will become exercisable beginning on the date on which we file a Current Report on Form 8-K with the SEC giving public notice of Stockholder Approval (the “ Initial Exercise Date”) at an assumed exercise price per share of $0.96, equal to 200% of the assumed combined public offering price per share of Common Stock and accompanying common warrant, and will expire two and one-half (2.5) years after the Initial Exercise Date. Holders of the common warrants may effect a “zero exercise price” exercise at any time while the common warrants are outstanding following the Initial Exercise Date. Under the zero exercise price option, a holder of a common warrant has the right to receive an aggregate number of shares equal to the product of (i) the aggregate number of shares of Common Stock that would be issuable upon a cash exercise of the common warrant and (ii) 3.0. The number of shares issuable on the exercise of the common warrants under the zero exercise price provision increases as the stock price declines. Accordingly, it is highly unlikely that a holder of the common warrants would wish to pay an exercise price in cash to receive one share of Common Stock when they could instead choose the zero exercise price option and pay no cash to receive three shares of Common Stock. As a result, we will likely not receive any additional funds and do not expect to receive any additional funds upon the exercise of the common warrants. In addition, on the Adjustment Date, the exercise price of the common warrants will be reduced to the greater of the Floor Price and the lowest daily dollar volume-weighted average price during the period beginning two full trading days prior to the Adjustment Date and ending on the 10th trading day after the Adjustment Date. Upon any such resulting adjustment of the exercise price of the common warrants, the number of shares of Common Stock issuable under the