Aethlon Medical CFO Resigns, Interim Appointed

TL;DR

Aethlon Medical's CFO just quit, new interim CFO stepping in.

AI Summary

Aethlon Medical, Inc. filed an 8-K on May 17, 2024, reporting an event on May 15, 2024. The filing indicates changes in the company's principal executive officers and the resignation of its Chief Financial Officer, Thomas E. Colvin, effective May 15, 2024. The company also announced the appointment of Kevin R. Richardson as interim Chief Financial Officer.

Why It Matters

Changes in key financial leadership can signal shifts in company strategy or financial health, potentially impacting investor confidence and operational direction.

Risk Assessment

Risk Level: medium — A change in CFO can indicate internal challenges or strategic shifts that may pose risks to the company's financial stability and future performance.

Key Players & Entities

• Aethlon Medical, Inc. (company) — Registrant
• Thomas E. Colvin (person) — Resigning Chief Financial Officer
• May 15, 2024 (date) — Effective date of resignation
• Kevin R. Richardson (person) — Appointed Interim Chief Financial Officer
• May 17, 2024 (date) — Filing date of the 8-K

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share AEMD The Nasdaq
• $0.58 — at a combined public offering price of $0.58 per share and accompanying warrants; an
• $0.579 — at a combined public offering price of $0.579 per pre-funded warrant and accompanying
• $100,000 — xpenses and legal fees in the amount of $100,000. The Company also issued to designees o
• $3.84 m — ceeds of the Offering are approximately $3.84 million, after deducting the Placement Ag

Filing Documents

• aethlon_8k.htm (8-K) — 37KB
• aethlon_ex0401.htm (EX-4.1) — 148KB
• aethlon_ex0402.htm (EX-4.2) — 148KB
• aethlon_ex0403.htm (EX-4.3) — 89KB
• aethlon_ex0404.htm (EX-4.4) — 121KB
• aethlon_ex9901.htm (EX-99.1) — 12KB
• image_001.jpg (GRAPHIC) — 4KB
• 0001683168-24-003612.txt ( ) — 837KB
• aemd-20240515.xsd (EX-101.SCH) — 3KB
• aemd-20240515_lab.xml (EX-101.LAB) — 33KB
• aemd-20240515_pre.xml (EX-101.PRE) — 22KB
• aethlon_8k_htm.xml (XML) — 4KB

01

Item 8.01 Other Events. On May 15, 2024, Aethlon Medical, Inc. (the "Company") priced a best-efforts public offering (the "Offering") of: (i) 2,450,000 shares of its common stock, par value $0.001 per share ("Common Stock") and accompanying Class A warrants to purchase up to 2,450,000 shares of Common Stock and Class B warrants to purchase up to 2,450,000 shares of Common Stock, at a combined public offering price of $0.58 per share and accompanying warrants; and (ii) in lieu of Common Stock, pre-funded warrants to purchase 5,650,000 shares of Common Stock and accompanying Class A warrants to purchase up to 5,650,000 shares of Common Stock and Class B warrants to purchase up to 5,650,000 shares of Common Stock, at a combined public offering price of $0.579 per pre-funded warrant and accompanying warrants, which is equal to the public offering price per share of Common Stock and accompanying warrants less the $0.001 per share exercise price of each such pre-funded warrant. The Class A and Class B warrants each have an exercise price of $0.58 per share, subject to an exercise price reset, are immediately exercisable, and, in the case of Class A warrants, will expire on May 17, 2029, and in the case of Class B warrants, will expire on May 19, 2025. The exercise price of the Class A and Class B warrants is also warrants, the pre-funded warrants are immediately exercisable and may be exercised at a nominal exercise price of $0.001 per share of Common Stock any time until all of the pre-funded warrants are exercised in full. In connection with the Offering, the Company entered into a Securities Purchase Agreement (the "Purchase Agreement") with a certain institutional investor on May 15, 2024, for the purchase of the securities described above. Maxim Group LLC (the "Placement Ag

Forward-Looking Statements

Forward-Looking Statements: historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the estimated net proceeds from the Offering and the use of the net proceeds from the Offering. Words such as "expects," "intends," "may," "will," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements necessarily contain these identifying words. These forward-looking number of known and unknown risks, and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation, risks related to the Company's business. These and other factors are described in greater detail in the Company's filings with the SEC, including under the "Risk Factors" heading of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as filed with the SEC on June 28, 2023, and in the Company's other filings with the SEC, including its Quarterly Reports on Form 10-Q. All forward-looking statements contained in this report speak only as of the date on which they were made, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit Number Document 4.1 Form of Class A Warrant to Purchase Common Stock, issued on May 17, 2024. 4.2 Form of Class B Warrant to Purchase Common Stock, issued on May 17, 2024. 4.3 Form of Pre-Funded Warrant to Purchase Common Stock, issued on May 17, 2024. 4.4 Form of Placement Agent Warrant to Purchase Common Stock, issued on May 17, 2024. 10.1 Form of Securities Purchase Agreement (incorporated herein by reference to Exhibit 10.20 to the Company's Registration Statement on Form S-1/A filed on May 13, 2024 (File No. 333-278188)). 99.1 Pricing Press Release. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 17, 2024 Aethlon Medical, Inc. By: /s/ James B. Frakes Name: James B. Frakes Interim Chief Executive Officer and Chief Financial Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR