--- title: "Imunon files for share offering with 350% warrant coverage in four tranches" url: "https://aibio.space/news/imunon-files-share-offering-350-percent-warrant-coverage-four-tranches/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-10-27" section: "Financings" tickers: "NASDAQ:IMNN" source: "https://www.sec.gov/Archives/edgar/data/749647/000149315226048630/forms-1.htm" summary: "Imunon's preliminary prospectus covers up to 20,000,000 shares, sold with warrants that could cover up to 70,000,000 more. The auditor's opinion on 2025 re" --- By the aibio.space news desk. Sources - [Imunon (SEC Form S-1)](https://www.sec.gov/Archives/edgar/data/749647/000149315226048630/forms-1.htm) - [Imunon, Inc. 10-K (2026-03-31): business](https://www.sec.gov/Archives/edgar/data/749647/000149315226013850/form10-k.htm) - [Imunon, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/749647/000149315226013850/) [IMNN](https://aibio.space/companies/imunon/) 2026-10-27 # Imunon files for share offering with 350% warrant coverage in four tranches Tickers [IMNN](https://aibio.space/companies/imunon/) Imunon's preliminary prospectus covers up to 20,000,000 shares, sold with warrants that could cover up to 70,000,000 more. The auditor's opinion on 2025 results includes substantial doubt about the company's ability to continue as a going concern. ## Key facts - **Company**: Imunon, Inc. (NASDAQ: IMNN) - **News type**: Financings - **Primary source**: [Imunon (SEC Form S-1)](https://www.sec.gov/Archives/edgar/data/749647/000149315226048630/forms-1.htm) *Two people shaking hands across a table. Photo: Kristin Hardwick, CC0, via StockSnap. The picture shows the field, not the companies named.* Imunon, Inc. (Nasdaq: [IMNN](https://aibio.space/companies/imunon/)) filed a registration statement on Form S-1 for a best-efforts offering of up to 20,000,000 shares of common stock, or pre-funded warrants in their place. The preliminary prospectus assumes a public offering price of $1.25 per share with the accompanying warrants. The filing says that price was the company's closing price on the Nasdaq Capital Market on October 23, 2026. ## Placement agent and counsel Imunon has engaged Maxim Group LLC as placement agent, to use its best efforts to arrange sales of the securities. Imunon agreed to pay Maxim a cash fee equal to 7.0% of the aggregate purchase price paid by investors, plus placement agent warrants for up to 1,000,000 shares. It would also receive a solicitation fee of 7.0% of the gross proceeds from exercise of the common warrants, and Imunon would reimburse its offering-related legal expenses up to $125,000. The S-1 sets no minimum number of securities or amount of proceeds as a condition to closing. The S-1 lists Covington & Burling LLP and Sullivan & Worcester LLP under "Copies to" but does not say which firm represents Imunon and which represents Maxim. ## The warrant structure Each share, or pre-funded warrant, is sold with a Tranche A common warrant for one-half of a share, and Tranche B, C and D common warrants for one share each. That is 350% warrant coverage. The assumed exercise prices are $1.25, $1.38, $1.56 and $2.50, equal to 100%, 110%, 125% and 200% of the assumed offering price. Pre-funded warrants are priced at $1.2499, with the same accompanying warrants. The common warrants cannot be exercised until stockholders approve the share issuance, unless the offering is treated as a public offering or specified pricing conditions are met. Buyers who would own more than 4.99% of the stock after exercise receive exchange warrants in place of shares. The S-1 registers up to 91,000,000 shares issuable on exercise of all the warrants, including 70,000,000 under the common warrants. Warrants for 70,000,000 shares sit against 20,000,000 shares offered. ## Use of proceeds and the Streeterville debt Imunon expects to use the net proceeds for general corporate purposes, primarily clinical development of its lead product candidate, IMNN-001, along with capital expenditures and working capital. It may also use part of the proceeds to repay amounts owed to Streeterville Capital, LLC under a securities purchase agreement dated June 2, 2026, and an exchange agreement that the S-1 dates September 26, 2026. The S-1 says the A-1 Note bears interest at 8% per annum and the B Note at 5% per annum, and both mature 18 months from June 3, 2026. ## Going concern and cash The S-1 says the company's independent registered public accounting firm issued an audit opinion that includes substantial doubt about its ability to continue as a going concern. The company says it has incurred approximately $428.4 million of cumulative net losses through June 30, 2026. For the three months ended June 30, 2026, the net loss was $2.8 million. For the six months, it was $7.1 million. Cash and cash equivalents were $6.9 million at June 30, 2026. The S-1 says the outstanding secured indebtedness, including the amount owed to Streeterville, increases cash requirements and may accelerate the need for more capital. The 10-K for 2025 reports a net loss of $14.5 million, down from $18.6 million in 2024. Cash used in operations was $13.9 million in 2025, against $18.9 million in 2024. ## The programs Imunon develops non-viral DNA technology. Its lead clinical program, IMNN-001, is a DNA-based immunotherapy for the localized treatment of advanced ovarian cancer. The 10-K says IMNN-001 has completed one Phase II trial, OVATION 2, and is in a Phase 3 trial, OVATION 3. ## What comes next The filing gives no closing date, so the final prospectus will show the actual price, fees and warrant count. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story IMNN Imunon, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/imunon-files-share-offering-350-percent-warrant-coverage-four-tranches/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Imunon files for share offering with 350% warrant coverage in four tranches", 2026-10-27, https://aibio.space/news/imunon-files-share-offering-350-percent-warrant-coverage-four-tranches/