Monitor for any subsequent 10-Q for cash runway update — with no new cash raised, the company's ability to service the Series B preferred dividend will pressure the balance sheet. The 8% annual return on $12,000/share stated value implies a $1.44M liquidation preference over the common stock.
Price Chart
Executive Summary
Imunon (IMNN) exchanged $1.2M of its secured promissory A-1 Note held by Streeterville Capital for 120 shares of newly created Series B Preferred Stock (Series B) at $10,000/share, reducing the A-1 Note's outstanding balance. The Series B Preferred carries an 8% annual return (8% pre-default, 15% post-default), is not convertible into common, and carries a 110% redemption premium. The exchange was structured as a Section 3(a)(9) exchange and no new cash proceeds were raised — the debt was simply restructured into a higher-cost preferred security. The filing is a debt restructuring that increases the cost of capital without any new cash infusion, which is bearish for a pre-revenue clinical-stage biotech.
Key Facts
- Imunon exchanged $1,200,000 of its Secured Promissory Note A-1 for 120 shares of Series B Preferred Stock at $10,000/share
- Series B Preferred Stock has a stated value of $12,000 per share and accrues an 8% annual return (15% upon default)
- Series B Preferred Stock is not convertible into common stock and has no voting rights
- Company may redeem Series B Preferred Stock at 110% of the liquidation amount
- The exchange was executed under Section 3(a)(9) of the Securities Act — no new cash raised
- 200 shares of Series B Preferred Stock were authorized; 120 were issued to Streeterville Capital
Financial Impact
Debt restructuring of $1.2M of secured debt into a higher-cost preferred stock — no new cash proceeds raised
Risk Factors
- No new cash proceeds raised — the debt was simply restructured into a higher-cost preferred security
- 8% annual return on $12,000 stated value implies a $1.44M annual preferred dividend obligation on the 120 shares issued
- No new cash proceeds raised — the company's ability to service the preferred dividend will pressure the balance sheet
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-044792 |
| Exhibit: ex10-1.htm | 0001493152-26-044792 |
| Document: form8-k.htm | 0001493152-26-044792 |
| Document: 0001493152-26-044792-index-headers.html | 0001493152-26-044792 |
| Document: 0001493152-26-044792-index.html | 0001493152-26-044792 |
| Document: 0001493152-26-044792.txt | 0001493152-26-044792 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | S-1 | $1.22 | awaiting T+5 | — | $0.9698 (+20.51%) |
Oct 27, 2026 today | 8-K | $1.25 | awaiting T+5 | — | $0.9698 (−22.42%) |
Oct 21, 2026 6d ago | 8-K | $1.19 | awaiting T+5 | — | $0.9698 (−18.50%) |
Sep 29, 2026 28d ago | 8-K | $1.34 $1.12 | ▲ +16.10% | ▲ +18.05% | $0.9698 (+27.36%) |
Aug 11, 2026 10w ago | 8-K | $1.61 $1.58 | ▼ −1.86% | ▼ −1.42% | $0.9698 (−39.76%) |
Aug 11, 2026 11w ago | 8-K | $1.61 $1.58 | ▼ −1.86% | ▼ −1.46% | $0.9698 (−39.76%) |
Jun 30, 2026 16w ago | 8-K | $1.88 $1.95 | ▲ +3.72% | ▲ +3.46% | $0.9698 (−48.41%) |
Jun 16, 2026 18w ago | 8-K | $1.86 $1.73 | ▼ −6.99% | ▼ −5.95% | $0.9698 (−47.86%) |
Jun 4, 2026 20w ago | 8-K | $2.10 $2.03 | ▲ +3.33% | ▲ +0.78% | $0.9698 (+53.82%) |
May 12, 2026 24w ago | 8-K | $2.70 $2.26 | ▼ −16.30% | ▼ −16.37% | $0.9698 (−64.08%) |
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