Imunon, Inc. — Form 8-K Summary
Reporting context: Filed September 29, 2026, concerning agreements and a preferred-stock designation effective September 28, 2026. This filing reports a financing transaction; it does not provide operating results or a financial-statement reporting period.
Transaction and key terms
- Imunon and Streeterville Capital, LLC agreed to exchange $1.2 million of principal under the company’s Secured Promissory Note A-1, plus accrued and unpaid interest on that amount, for 120 shares of newly designated Series B Preferred Stock at $10,000 per share.
- The A-1 Note is reduced by the exchanged principal and interest; its other terms remain unchanged. The filing does not state the exact accrued-interest amount or the resulting remaining principal balance.
- The transaction relates to a June 2, 2026 financing that included $2.5 million of Series A Preferred Stock, a $2.72 million A-1 Note, and a $5 million Note B.
- The Series B designation authorizes 200 shares. Each share has a $12,000 stated value and accrues an 8% annual return, payable in cash or additional Series B shares. Series B is not convertible into common stock or other company stock.
- The company may redeem some or all outstanding Series B shares for cash at 110% of the applicable Series B Liquidation Amount. The preferred stock generally has no voting rights, subject to specified exceptions.
Financial impact and comparison
The exchange converts part of the A-1 debt, together with related accrued interest, into preferred equity. The filing does not quantify the interest exchanged, provide updated debt or liquidity balances, or report revenue, profit, cash flow, margins, or other operating metrics. It provides no comparable-period figures or guidance.
Risks, contingencies, and items to verify
- Customary covenants apply while Series B shares remain outstanding, and the designation includes events of default. Following an event of default, the preferred return increases by 15% per year; the filing says this may apply in respect of up to three separate events of default.
- Review Exhibits 3.1 and 10.1 for the full definitions, redemption mechanics, covenants, and default provisions; the 8-K says its descriptions are qualified by those exhibits.
- Verify the accrued interest exchanged, the remaining A-1 Note balance, and the resulting cash and liquidity effects, which are not specified in this filing.
- The 120 Series B shares were issued in an unregistered transaction under Securities Act Section 4(a)(2).