Imunon raises $3.25M upfront in private placement; warrants could add $6.5M

Imunon, Inc.

• Private placement raises $3.25M upfront from common stock and pre-funded warrants.
• Warrants to purchase up to 14,444,446 shares at $0.45 per share, subject to stockholder approval, expire three years later.
• If fully exercised on a cash basis, warrants would yield additional $6.5M in gross proceeds.
• Proceeds intended for working capital and general corporate purposes.
• Offering priced at-the-market under Nasdaq rules; expected to close May 27, 2025.