On July 16, 2020 INmune Bio, Inc. (NASDAQ: INMB) (the "Company" or "INmune"), a clinical-stage immunology company focused on developing treatments that harness a patient’s innate immune system to fight disease, reported the pricing of its underwritten public offering of an aggregate of 2,173,914 shares of its common stock at a public offering price of $10.00 per share (Press release, INmune Bio, JUL 16, 2020, View Source [SID1234561936]). In addition, INmune has granted the underwriters an over-allotment option, exercisable for 45 days from today to purchase up to an additional 326,086 shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about July 20, 2020, subject to customary closing conditions.

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The gross proceeds to INmune from this offering are expected to be approximately $21.7 million, before deducting underwriting discounts and commissions and other offering expenses payable by INmune but excluding any exercise of the underwriters’ option to purchase additional shares of common stock. Net proceeds are estimated to be $20 million. INmune intends to use the net proceeds from the offering for general corporate purposes, including to support research and development, including clinical trials.

BTIG, LLC is acting as sole book-running manager of the offering, and National Securities Corporation is acting as a co-manager.

The offering is being made pursuant to the shelf registration statement on Form S-3 (File No. 333-237368) that was filed with the Securities and Exchange Commission (the "SEC") on March 24, 2020 and became effective on April 2, 2020. The offering is being made only by means of written prospectuses and prospectus supplements that form part of the registration statements. Preliminary prospectus supplements and accompanying prospectuses relating to and describing the terms of the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. The final prospectus supplements and accompanying prospectuses for each offering will be filed with the SEC. When available, copies of the final prospectus supplements and accompanying prospectuses for each offering may be obtained for free from BTIG, LLC, Attention: Equity Capital Markets, 65 East 55th Street, New York, NY 10022, by telephone at (212) 593-7555 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.