AIM ImmunoTech Inc. (NYSEAM: AIM) announced an agreement with accredited investors to exercise outstanding warrants for approximately $4.2 million in gross proceeds. The biotechnology company will issue 8,719,928 shares of common stock at a reduced exercise price of $0.48 per share.

The transaction involves the exercise of Class A through Class F warrants, with the offering expected to close May 8, 2026. Ladenburg Thalmann & Co. Inc. served as the exclusive placement agent for the transaction.

Warrant holders who exercise their existing warrants will receive replacement warrants in a private placement. These new warrants will be exercisable into up to 17,439,856 shares of common stock at $0.60 per share, with a five-year term beginning upon stockholder approval.

The company stated it intends to use net proceeds for working capital and general corporate purposes. The shares issuable upon exercise of the existing warrants are registered under effective SEC registration statements.

The replacement warrants were offered through a private placement exemption and have not been registered under the Securities Act of 1933. AIM ImmunoTech has agreed to file a registration statement covering the resale of shares issuable upon exercise of the replacement warrants.

AIM ImmunoTech focuses on developing Ampligen, a drug candidate for treating late-stage pancreatic cancer. The company describes itself as a late-stage biotechnology company engaged in cancer treatment drug discovery and development.