Immunic, Inc. (IMUX) has disclosed a new risk, in the Share Price & Shareholder Rights category.
Immunic, Inc. faces a significant business risk should its stockholders decline to approve an increase in authorized common stock from 130,000,000 to 500,000,000 shares. As of January 31, 2024, the company has 89,929,016 shares issued and outstanding and is relying on the upcoming Special Meeting on March 4, 2024, to obtain approval. This approval is crucial for the company to secure additional equity financing under the terms of their January 4 private placement agreement. Without it, Immunic, Inc.’s ability to incentivize employees and fund operations will be severely restricted, potentially hampering its financial growth and operational capabilities.
The average IMUX stock price target is $4.00, implying 227.87% upside potential.
To learn more about Immunic, Inc.’s risk factors, click here.
