10:20 AM EDT, 09/30/2024 (MT Newswires) -- AIM ImmunoTech ( AIM ) said Monday it has agreed to sell to an institutional investor about 4.7 million common shares at $0.27 per share in a registered direct offering.

The company said that in a concurrent private placement, it also agreed to issue class C warrants to buy up to an aggregate of about 4.7 million common shares and class D warrants to purchase up to a total of the same number of shares.

The warrants, which are unregistered, will each have an exercise price of $0.28, the company said.

The company said it expects gross proceeds of about $1.3 million from the registered direct offering and the private placement.

Shares of AIM were down 3.6% in recent trading.

Price: 0.27, Change: -0.01, Percent Change: -3.57