Aethlon Medical prices $4.0 million at-the-market offering, closes July 7

Aethlon Medical, Inc. announced on July 6, 2026 the pricing of a follow-on offering of 5,633,009 shares of common stock, or pre-funded warrants in place of shares, along with warrants to purchase up to 5,633,009 additional shares. The combined public offering price for each share or pre-funded warrant plus its accompanying warrant was $0.7101, and the deal was structured as an at-the-market offering under Nasdaq rules.¹ The warrants carry an exercise price of $0.7101 per share, become exercisable once stockholders approve the issuance, and expire five years after that approval date.¹

Aethlon said the offering was expected to close on or around July 7, 2026, contingent on standard closing conditions.¹ Maxim Group LLC served as the sole placement agent.¹ Gross proceeds before fees and expenses were expected to total approximately $4.0 million.¹

The company's 8-K, also dated July 6, 2026, laid out the transaction in more detail. Under a Securities Purchase Agreement signed that day, Aethlon agreed to issue 263,000 shares of common stock, warrants to purchase 5,633,009 shares, pre-funded warrants to purchase 5,370,009 shares, and placement agent warrants to purchase up to 225,320 shares.¹ The offering closed on July 7, 2026.¹ The securities were registered under a Form S-1 (File No. 333-296933) first filed June 22, 2026 and amended twice on July 1, 2026, which the SEC declared effective on July 6, 2026.¹

Maxim's compensation included a cash fee equal to 6.25% of gross proceeds, or $260,000, plus $100,000 in expense reimbursement.¹ Aethlon also issued Maxim 225,320 placement agent warrants, equal to 4.0% of the shares placed, exercisable six months after closing with a five-year term and a $0.71 exercise price.¹

Gross proceeds were approximately $4,000,000, with net proceeds after fees and expenses of about $3.335 million.¹ Aethlon said it plans to direct the funds toward "working capital for general corporate purposes," per the filing. The company also agreed to a 90-day restriction on new securities issuances and a one-year limit on variable-rate transactions without Maxim's consent, while officers and directors signed 90-day lock-up agreements.¹