IMUNON Converts $1.2 Million of Debt-to-Equity

Unique investment vehicle provides efficient access to equity capital Outstanding debt of the original Note lowered by approximately 43% No issuance of common stock or dilutive warrants

LAWRENCEVILLE, N.J., Sept. 29, 2026 (GLOBE NEWSWIRE) -- IMUNON, Inc. (Nasdaq: IMNN), (“IMUNON” or the “Company”), a clinical-stage biotechnology company developing DNA-mediated immunotherapies, today announced that it has entered into an Exchange Agreement, under which $1.2 million of outstanding debt, together with accrued and unpaid interest, was exchanged for shares of the Company’s newly designated, non-convertible Series B Preferred Stock. The transaction reduces the Company’s outstanding debt by approximately 43% and increases stockholders’ equity while preserving financial flexibility, with no issuance of common stock or warrants.