Aethlon Medical, Inc. (Nasdaq: AEMD) announced the pricing of a follow-on offering of 5,633,009 shares of common stock, or pre-funded warrants in lieu thereof, along with warrants to purchase up to an aggregate of 5,633,009 additional shares, at a combined public offering price of $0.7101 per share and accompanying warrant.

The offering is priced at-the-market under applicable Nasdaq rules. The warrants carry an exercise price of $0.7101 per share, will become exercisable upon stockholder approval, and will expire five years from that date. The shares and warrants are immediately separable and will be issued separately.

Gross proceeds are expected to total approximately $4.0 million before placement agent fees and other offering expenses. The company said it intends to use net proceeds for general corporate purposes, including research and development, clinical trial expenses, capital expenditures, and working capital. A portion may also be used to in-license, acquire, or invest in complementary businesses, technologies, products, or assets.

The closing is expected to occur on or about July 7, 2026, subject to customary closing conditions. Maxim Group LLC is acting as the sole placement agent for the offering.

The securities are being offered pursuant to a registration statement on Form S-1, declared effective by the Securities and Exchange Commission on July 6, 2026.