INmune Bio to sell 986,000 shares at $9.84 in registered direct offering

INmune Bio has entered into definitive agreements for the sale and purchase of 986,000 shares of its common stock and warrants to purchase up to an aggregate of 986,000 shares of its common stock at an offering price of $9.84 per share of common stock and accompanying warrant. The warrants include an acceleration clause upon positive top-line data in the Company’s Phase 2 Alzheimer’s Disease program. The offering was priced at-the-market under Nasdaq rules based on the average of the previous 5-days’ closing prices, or $9.84 per share which includes $0.125 per warrant. The warrants terminate on the earlier of the two year anniversary of the initial exercise date of the warrant or thirty trading days following the reporting of positive top-line data in the Phase 2 Alzheimer’s program of XPro1595. The gross proceeds of this offering are approximately $9.7 million before deducting placement agent fees and expenses. The closing of the offering is expected to occur on or about April 29, 2024, subject to the satisfaction of customary closing conditions. The net proceeds is expected to fund the Company through the readout of the ongoing Phase 2 trial in patients with Early Alzheimer’s Disease using XPro and through the metastatic castration-resistant prostate cancer Phase 1 trial using the INKmune technology. Maxim Group LLC is acting as sole placement agent for the offering.