$AIM DOE RE ME, AIM ImmunoTech Inc. (formerly, Hemispherx Biopharma, Inc.) previously entered into an Equity Distribution Agreement with Maxim Group LLC, or Maxim, relating to the sale of our common stock, par value $0.001 per share, of which we have sold $31,511,257 worth of shares pursuant to prospectus supplements dated July 22, 2019, March 3, 2020 and March 10, 2020 (and of which we may sell an additional $1,406,552 worth of shares as of the date hereof pursuant to the prospectus supplement dated March 10, 2020). In accordance with the terms of the Equity Distribution Agreement, as of the date hereof, we are offering additional shares of our common stock having an aggregate offering price of up to $19,406,552 from time to time through Maxim acting as agent. This prospectus supplement is being filed for the offer and sale of an additional $18,000,000 worth of shares pursuant to the Equity Distribution Agreement.
Sales of our common stock, if any, under this prospectus supplement and the accompanying base prospectus will be made in sales deemed to be “at the market” offerings as defined in Rule 415 under the Securities Act of 1933, as amended, or the Securities Act, including sales made directly on or through the NYSE American, the existing trading market for our common stock, sales made to or through a market maker other than on an exchange or otherwise, in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices and/or any other method permitted by law, including in privately negotiated transactions. Maxim will use its commercially reasonable efforts to sell on our behalf all the shares of common stock requested to be sold by us, consistent with its normal trading and sales practices, on mutually agreed terms between Maxim and us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement. We provide more information about how the shares of common stock will be sold in the section entitled “Plan of Distribution.”
Maxim will be entitled to compensation at a fixed commission rate of 3.5% of the gross proceeds of each sale of shares of our common stock. In connection with the sale of shares of our common stock on our behalf, Maxim will be deemed to be an “underwriter” within the meaning of the Securities Act and the compensation of Maxim will be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to Maxim with respect to certain liabilities, including liabilities under the Securities Act.
Our common stock is traded on The NYSE American under the symbol “AIM.” On June 12, 2020, the last reported sale price of our common stock was $2.59 per share.
Investing in our common stock involves a high degree of risk. See “Risk Factors” beginning on page S-9 of this prospectus supplement, page 4 of the accompanying base prospectus and under similar headings in the documents incorporated by reference into this prospectus supplement and the accompanying base prospectus.
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 base prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
Maxim Group LLC
The date of this prospectus supplement is June 15, 2020
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