Imunon announces up to $9.75M private placement priced at-the-market

Imunon (IMNN) announced that it has entered into definitive agreements for the issuance and sale of an aggregate of 7,222,223 shares of its common stock or pre-funded warrants in lieu therof and short-term warrants to purchase up to an aggregate of 14,444,446 shares of common stock at a purchase price of 45c per share or pre-funded warrant in lieu thereof and accompanying short-term warrants in a private placement priced at-the-market under Nasdaq rules. The warrants will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares of common stock upon exercise of the warrants at an exercise price of 45c per share and will expire three years from the date of stockholder approval. The offering is expected to close on or about May 27, subject to the satisfaction of customary closing conditions. H.C. Wainwright is acting as the the exclusive placement agent for the offering.