Wednesday, August 05, 2020 6:13:04 PM
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$30,000,000 plus 6,250,000 Commitment Shares
Class A Common Stock
Pursuant to this prospectus supplement and the accompanying prospectus, we are offering up to $30.0 million aggregate amount plus 6,250,000 shares of shares of our Class A common stock, par value $0.0001 per share (“common stock”) to Aspire Capital Fund, LLC (“Aspire Capital”) under a common stock purchase agreement entered into on July 31, 2020 (the “Purchase Agreement”).
The shares of common stock offered under the Purchase Agreement include (i) 6,250,000 shares of common stock to be issued to Aspire Capital in consideration for entering into the Purchase Agreement (the “Commitment Shares”), and (ii) additional shares of common stock in an aggregate offering price of up to $30.0 million which may be sold from time to time to Aspire Capital over the 24-month term of the Purchase Agreement (the “Purchase Shares”). The purchase price for the Purchase Shares will be based upon one of two formulas set forth in the Purchase Agreement depending on the type of purchase notice we submit to Aspire Capital from time to time.
Our common stock is currently quoted on the OTCQB under the symbol “IPIX.” On July 31, 2020, the last reported sales price of our common stock was $0.2251 per share.
Investing in our securities involves a high degree of risk. You should read “Risk Factors” beginning on page S-3 of this prospectus supplement and the reports we file with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended, incorporated by reference in this prospectus supplement, to read about factors to consider before purchasing our securities.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is August 4, 2020.
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