Imunon, Inc. raises $3.25 million in private placement with potential for $6.5 million more

From Yahoo Finance: 2025-05-28 23:55:00

Imunon, Inc. (IMNN) has completed a private placement, raising $3.25 million by selling 7,222,223 shares at $0.45 each. Investors also have warrants to buy up to 14,444,446 additional shares at the same price, potentially raising $6.5 million more within three years. Deal led by H.C. Wainwright & Co. with Brookline Capital Markets as co-placement agent.

Imunon, Inc. (IMNN) plans to use the funds for working capital and general corporate needs. The securities offered under the private placement are only available to accredited investors and cannot be resold publicly until registration is completed. The company has agreed to file registration statements for future resale.

IMNN stock has surged by nearly 45% since the beginning of 2025. While IMNN has potential, some believe other AI stocks offer higher returns with limited downside risk. For those seeking a promising AI stock with 100x upside potential, a report on the cheapest AI stock is available.

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Read more at Yahoo Finance: Imunon, Inc. (IMNN) Raises $3.25M in Private Placement, Eyes $6.5M More