Immune Pharmaceuticals Inc (fka IMNPQ)

[Letterpenny]

5) $20MM of PIPE proceeds will be committed as of the signing of the BCA. We intend to pursue an additional $30MM of PIPE proceeds after the signing of the BCA from investors with which we have pre-existing relationships. There can be no
guarantees we will raise any of the incremental PIPE proceeds on terms favorable to us or at all. We may close the business
combination even it we do not raise additional cash in a Pipe otterine or otherwise (6) We intend to pursue an additional $30MM of proceeds from the issuance of convertible notes or other alternative financing sources after the signing of the BCA. There can be no guarantees we will raise any of the incremental convertible notes or alternative financing proceeds on terms favorable to us or at all. We may close the business combination even if we do not
raise additional cash through the offering of convertible notes or other alternative financings
(7) Comprised of SPAC Cash in Trust, eincremental PIPe proceeds sought post-BCA signing, incremental alternative financing proceeds sought post-BCA signing, less estimated transaction expenses