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AIM ImmunoTech Launches $2.7 Million Registered Direct Offering, Private Placement

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AIM ImmunoTech (AIM) has launched a registered direct offering and a concurrent private placement priced at-the-market under NYSE American rules for gross proceeds of around $2.7 million, the company said Tuesday.

Under the direct offering, AIM will issue and sell about 2.6 million shares at $0.5189 per share, the company said. Under the private placement, the company will issue and sell the same amount of unregistered shares and unregistered class J warrants to purchase up to 10.2 million shares, according to a statement.

The class J Warrants will have an exercise price of $0.5189 per share, AIM said.

The offering is expected to close on or about Wednesday, the company said.

AIM said it intends to use the net proceeds for the manufacture of clinical drug supply, its current clinical trial activities, its planned Phase 3 clinical trial activities, and working capital purposes.

Price: $0.43, Change: $-0.08, Percent Change: -15.64%

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