AIM ImmunoTech Ownership Update Filed

TL;DR

Kellner & Deutsch updated their AIM ImmunoTech stake filing. Watch this space.

AI Summary

On July 15, 2024, Todd Deutsch and Ted D. Kellner filed an amendment (No. 4) to their Schedule 13D regarding AIM ImmunoTech Inc. The filing indicates a change in the beneficial ownership of the company's common stock. The specific details of the change in ownership percentage or the exact number of shares acquired or disposed of are not explicitly stated in this excerpt, but the filing itself is an update to a previous ownership disclosure.

Why It Matters

This filing signals a potential shift in control or significant stake changes for AIM ImmunoTech Inc., which could impact its stock price and strategic direction.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant investor activity, which can lead to volatility and uncertainty for other shareholders.

Key Players & Entities

• AIM ImmunoTech Inc. (company) — Subject Company
• Todd Deutsch (person) — Filing Person
• Ted D. Kellner (person) — Filing Person
• Baker & Hostetler LLP (company) — Legal Counsel
• John J. Harrington (person) — Authorized Contact

FAQ

Key Financial Figures

• $0.001 — me of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securiti
• $15.0 million — sons estimate the board has wasted over $15.0 million in attorneys fees and other expenses in
• $2.5 million — a usurious two-year loan in the amount $2.5 million bearing an effective interest rate of a
• $1.8 million — hares to a hedge fund for approximately $1.8 million of proceeds after expenses and granting

Filing Documents

• d782121dsc13da.htm (SC 13D/A) — 51KB
• 0001193125-24-179109.txt ( ) — 53KB

is

Item 4 is hereby supplemented as follows: In light of recent developments described below, the Reporting Persons are providing the following update on their plans with respect to the Company. Delaware Supreme Court Finds Breach of Duty of Loyalty by the Companys Board On July 11, 2024, the Delaware Supreme Court ruled on Mr. Kellners previously disclosed appeal of the ruling of the Delaware Court of Chancery. The Delaware Supreme Court ruled in Mr. Kellners favor that all of the Companys amended bylaws at issue in the appeal are inequitable and unenforceable. The Court found that the boards motive was not to counter the threat of an uninformed vote. Rather, the boards primary purpose was to interfere with Kellners nomination notice, reject his nominees, and maintain control. The Court ruled that the amended bylaws were the product of an improper motive and purpose, which constitutes a breach of the duty of loyalty . (emphasis added) The Delaware Supreme Courts opinion can be found at https://courts.delaware.gov/Opinions/Download.aspx?id=366380. AIM and Counsel Sanctioned in Florida Action for Frivolous and Improper Litigation Conduct The findings of the Delaware Supreme Court regarding the boards improper actions are part of a pattern. In April 2024, the Company and its counsel were sanctioned by the U.S. District Court, Middle District of Florida, for certain actions taken in the lawsuit that the Company initiated against the Reporting Persons and other defendants for an alleged violation of Section 13(d) of the Exchange Act. That action has been dismissed multiple times. The court found that the Company and its counsel committed sanctionable conduct by continuing to pursue arguments that were factually and legally frivolous and advanced for an improper purpose and that certain defendants in that action were entitled to fee reimbursement. The Reporting Persons continue to assert that the Companys pursuit of these baseless claims against them and others

is hereby supplemented as follows

Item 5 is hereby supplemented as follows: (a) As of the date of this Amendment No. 4, Mr. Kellner is the beneficial owner of 1,493,000 shares of Common Stock, or 2.6% of the Companys outstanding shares, and Mr. Deutsch is the beneficial owner of 1,716,100 shares of Common Stock, or 3.0% of the Companys outstanding shares The Group consisting of Mr. Deutsch and Mr. Kellner owns an aggregate of 3,209,100 shares of Common Stock, or 5.6% of the Companys outstanding shares. The ownership percentages above are based on 57,136,680 shares of Common Stock outstanding as reported as reported in a prospectus supplement filed pursuant to Rule 424 by the Company with the Securities and Exchange Commission on June 3, 2024.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned hereby certifies that the information set forth in this statement is true, complete and correct. Date: July 15, 2024 By: /s/ Todd Deutsch TODD DEUTSCH By: /s/ Ted D. Kellner TED D. KELLNER

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View this SC 13D/A filing on SEC EDGAR