Immune Pharmaceuticals Inc (fka IMNPQ)

[Letterpenny]

A couple more major facts that affect our situation.

Shell company business combinations involve a “sale of securities”: The new Rule 145a under the Securities Act deems any business combination transaction involving a SPAC or reporting shell company to be a sale of securities to such SPAC’s or other reporting shell company’s security holders. Therefore, regardless of the transaction structure, a registration statement on Form S-4 or Form F-4, rather than a proxy statement on Schedule 14A, will be required unless an exemption from registration is available.