Imunon Secures $1.5M in Preferred Stock Financing
Ticker: IMNN · Form: 8-K · Filed: Jul 31, 2024 · CIK: 749647
Sentiment: neutral
Topics: financing, preferred-stock, capital-raise
TL;DR
Imunon just raised $1.5M via preferred stock sale to an accredited investor. Funds for operations.
AI Summary
On July 30, 2024, Imunon, Inc. entered into a Material Definitive Agreement, specifically a Securities Purchase Agreement, with an accredited investor. The agreement involves the sale of approximately $1.5 million worth of Series B Convertible Preferred Stock. This transaction is expected to provide Imunon with additional capital to fund its ongoing operations and development activities.
Why It Matters
This financing provides Imunon with crucial capital, potentially enabling the company to advance its drug development pipeline and operational goals.
Risk Assessment
Risk Level: medium — The company is raising capital through preferred stock, which can dilute existing shareholders and may indicate a need for funding to sustain operations.
Key Numbers
- $1.5M — Financing Amount (Proceeds from the sale of Series B Convertible Preferred Stock.)
- July 30, 2024 — Transaction Date (Date of the Securities Purchase Agreement.)
Key Players & Entities
- Imunon, Inc. (company) — Registrant
- July 30, 2024 (date) — Date of earliest event reported
- $1.5 million (dollar_amount) — Amount of Series B Convertible Preferred Stock sale
- Securities Purchase Agreement (agreement) — Material Definitive Agreement entered into
- Series B Convertible Preferred Stock (security) — Type of security sold
- Delaware (jurisdiction) — State of incorporation
- 001-15911 (identifier) — Commission File Number
FAQ
What is the specific amount of Series B Convertible Preferred Stock being sold?
The filing states approximately $1.5 million worth of Series B Convertible Preferred Stock is being sold.
Who is the accredited investor purchasing the stock?
The filing refers to the purchaser as 'an accredited investor' but does not disclose their specific name.
What is the purpose of this financing for Imunon, Inc.?
The proceeds are intended to fund the ongoing operations and development activities of Imunon, Inc.
What type of agreement was entered into on July 30, 2024?
Imunon, Inc. entered into a Securities Purchase Agreement.
What is the conversion price or ratio for the Series B Convertible Preferred Stock?
The filing does not specify the conversion price or ratio for the Series B Convertible Preferred Stock in this section.
Filing Stats: 1,209 words · 5 min read · ~4 pages · Grade level 11.6 · Accepted 2024-07-31 08:29:08
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share IMNN Nasdaq Capital Mark
- $2.00 — of Common Stock at a purchase price of $2.00 per share and accompanying Warrant. The
- $10.0 million — ny expects to receive gross proceeds of $10.0 million from the Offering, before deducting pla
Filing Documents
- form8-k.htm (8-K) — 48KB
- ex4-1.htm (EX-4.1) — 117KB
- ex10-1.htm (EX-10.1) — 283KB
- ex99-1.htm (EX-99.1) — 18KB
- ex99-1_001.jpg (GRAPHIC) — 15KB
- 0001493152-24-029697.txt ( ) — 752KB
- imnn-20240730.xsd (EX-101.SCH) — 3KB
- imnn-20240730_lab.xml (EX-101.LAB) — 33KB
- imnn-20240730_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
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. IMUNON, INC. Dated: July 31, 2024 By: /s/ David Gaiero David Gaiero Chief Financial Officer