Immuron trims at-the-market offering capacity to about $2 million

Immuron Limited filed a prospectus supplement dated October 23, 2026 to amend its at-the-market offering arrangement with H.C. Wainwright & Co., LLC. The filing supplements and amends, as of October 23, 2026, the prospectus to decrease the maximum aggregate offering price of securities that may be sold under the Offering Agreement with Wainwright to approximately $2,006,769.¹

From the filing date forward, under General Instruction I.B.5 of Form F-3, Immuron is offering to issue and sell up to approximately $2,006,769 of securities from time to time through Wainwright, acting as sales agent or principal under the Offering Agreement.¹

The reduced capacity reflects limits tied to the company's market value. As of the date of the supplement, the aggregate market value of Immuron's outstanding ordinary shares held by non-affiliates was approximately $14,563,418, based on 8,071,202 ADS-equivalents outstanding, of which 7,914,901 ADS-equivalents were held by non-affiliates, using a price of US$1.84 per ADS, the Nasdaq closing price on September 8, 2026.¹ Under Form F-3 rules, Immuron cannot sell more than one-third of that non-affiliate market value in any 12-month period, which caps sales at $4,854,473 as of the supplement date.¹ The company said it had already sold about $2,847,703 of securities under this instruction during the trailing 12 months, leaving it eligible to sell the additional $2,006,769.¹

Immuron's ADSs trade on Nasdaq under "IMRN," with each ADS representing 40 ordinary shares and the last reported Nasdaq price on October 22, 2026 at $0.97 per ADS.¹ Its ordinary shares also trade on the Australian Securities Exchange under "IMC," last reported at A$0.04 per share on October 22, 2026.¹ Under the Offering Agreement, Immuron will pay Wainwright a cash commission equal to 3.0% of gross sales proceeds from ADSs sold.¹