OCALA, Fla., Sept. 30, 2024 (GLOBE NEWSWIRE) -- AIM ImmunoTech Inc. (NYSE:AIM) ("AIM" or the "Company") today announced that it has entered into a securities purchase agreement with a single institutional investor to purchase 4,653,036 shares of common stock in a registered direct offering at a purchase price of $0.27 per share. In a concurrent private placement, the Company also agreed to issue unregistered Class C warrants to purchase up to an aggregate of 4,653,036 shares of common stock and, unregistered Class D warrants to purchase up to an aggregate of 4,653,036 shares of common stock. The Class C and Class D warrants will each have an exercise price of $0.28, will be exercisable six months from the date of issuance and, in the case of the Class C warrants, will expire on the eighteen-month anniversary from the initial exercise date, and in the case of the Class D warrants, will expire on the five-year anniversary from the initial exercise date.
The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $1.26 million before deducting the placement agent's fees and other estimated offering expenses payable by the Company.
Maxim Group LLC is acting as the sole placement agent in connection with the offering.
The shares of common stock are being offered pursuant to a shelf registration statement on Form S-3 (File No. ...
