IMUNON, Inc. announced on July 23, 2025, a reverse stock split of its issued and outstanding common stock at a ratio of one (1) share for every fifteen (15) shares. The reverse stock split is scheduled to become effective as of 12:01 a.m. Eastern Time on July 25, 2025, with trading on a split-adjusted basis commencing at market open on the same day.
The primary purpose of this corporate action is to ensure the company meets the minimum bid price requirement for continued listing on The Nasdaq Capital Market. As a result, the number of outstanding common shares will be reduced from approximately 31.8 million to approximately 2.1 million, without accounting for fractional shares, which will be rounded up.
The reverse stock split will uniformly affect all stockholders and will not alter any stockholder’s percentage interest in the company’s equity, aside from fractional share adjustments. The company's common stock will continue to trade under the ticker 'IMNN' but with a new CUSIP number.
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