aibioAIM ImmunoTech pushes Streeterville note maturity to June 2027
Tickers AIM
The note is now due June 30, 2027. The balance is about $1.68 million after the amendment and the extension fee.
Key facts
- Company
- AIM ImmunoTech Inc. (AMEX: AIM)
- News type
- Debt Financing
- Primary source
- AIM ImmunoTech press release (Form 8-K)
The amendment
AIM ImmunoTech Inc. entered into Amendment #2 to its promissory note with Streeterville Capital, LLC, extending the maturity date to June 30, 2027. The company announced the change on May 19, 2026, in a press release filed with a Form 8-K. The original note was issued on February 16, 2024. The release says the outstanding balance of the note is approximately $1.68 million after the amendment and an associated extension fee. The release does not state the size of that fee.
The March 10, 2026 amendment had already extended the maturity from its earlier date to June 30, 2026, according to the 10-K filed March 27, 2026. The new amendment moves it a year further out. The filing names no placement agent or advisor for the note.
Equity and the exchange notice
The release says stockholder equity was approximately $2.1 million as of March 31, 2026. That compares with a stockholder deficit of approximately $9.8 million as of December 31, 2025, which the company describes as an increase of approximately $11.9 million. The company also says it has raised equity-generating funds through various transactions since March 31, 2026, but it does not give amounts.
Those figures matter because the company received a notice of noncompliance from the NYSE American on December 11, 2024. The exchange requires stockholders' equity of $6,000,000 or more. The $2.1 million figure is below that level. The company submitted a plan to regain compliance by June 11, 2026, and the 10-K says the exchange accepted the plan. The 10-K says the stock could be delisted if compliance is not regained by June 11, 2026, and that it would be delisted automatically if the price fell to $0.10. The company carried out a one for 100 reverse split in June 2025.
The March 6, 2026 rights offering raised approximately $1,800,000 in gross proceeds, according to the 10-K. It sold 1,842 Units, each made up of one share of Series G Convertible Preferred Stock and 2,000 warrants to buy common stock. Each preferred share converts into common stock at a conversion price of $1.00, and each warrant has an exercise price of $1.00 for five years.
The business and its lead program
AIM describes itself as an immuno-pharma company developing its lead product, Ampligen (rintatolimod), for late-stage pancreatic cancer, and the release says the extension supports that program. The 10-K says the company relies mainly on financing to meet its obligations, and that there is no assurance it will succeed in raising funds in the future. The company describes Ampligen as a dsRNA and highly selective TLR3 agonist immuno-modulator that has shown broad-spectrum activity in clinical trials, but its own release says significant additional testing and trials are required to determine whether Ampligen will be effective and that no assurance can be given the trials will succeed. The 10-K says the company does not have adequate funds to meet its anticipated operational cash needs and fund current clinical trials, and generates no material revenue.
The 10-K also cites a working capital deficit of $5,359,000 at December 31, 2024. The main cause was an accounts payable balance of approximately $6,400,000, which included approximately $4,900,000 of legal fees tied to litigation. The company says that in 2025 it negotiated with the law firm to reduce prior billings. It also holds a deposit of approximately $205,000 with Amarex, which may offset future clinical research costs.
Losses and cash
The 10-K reports revenue of $88,000 for 2025, against $170,000 for 2024. Research and development expense was $3.9 million in 2025, against $6.2 million in 2024. The net loss was $14.0 million in 2025, against $17.3 million in 2024. Cash used in operations was $11.0 million in 2025, against $14.9 million in 2024. Year-end cash and cash equivalents were $1.7 million at the end of 2024, and short-term investments were $2.3 million.
The extension gives the company more time, but the note is still owed at June 30, 2027. Chief Executive Officer Thomas Equels said "This amendment enhances our capital allocation flexibility at an important stage for the Company." The equity figure reported remains below the exchange's $6,000,000 requirement.