Item 1.01 Entry Into a Material Definitive Agreement
On January 27, 2020, INmune Bio, Inc. (the "Company") entered into an agreement
(the "Repurchase Agreement") to purchase 220,000 shares of its common stock, par
value $0.001 per share (the "Shares") from Linda F. Powers. The purchase price
is $4.60 per share, resulting in a total purchase price of $1,012,000 (the
"Repurchase Transaction") which the company believes is an attractive price and
will be accretive. Prior to consummating the Repurchase Transaction, Ms. Powers
held approximately 10.4% of the Company's outstanding common stock. Following
the consummation of the Repurchase Transaction, Ms. Powers now holds
approximately 8.6% of the Company's outstanding common stock. The Repurchase
Agreement and the transactions contemplated therein, were approved by the
Company's board of directors and audit committee.
The foregoing is merely a brief description of the material terms of the
Repurchase Agreement, which is attached hereto as Exhibit 10.1 and incorporated
herein by reference. The foregoing does not purport to be a complete description
of the rights and obligations of the parties thereunder and such description is
qualified in its entirety by reference to such exhibit.
Item 9.01 Financial statements and Exhibits
(d) Exhibits.
Exhibit
Number Description
10.1 Common Stock Repurchase Agreement
1
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