On December 29, 2023 ImmunityBio, Inc entered into a Stock Purchase and Option Agreement and issued 2,432,894 common stock at $4.11 per share for a gross proceeds of $9,999,194.34 on December 29, 2023. The transaction included participation from new investor, Hemanth Ramaprakash. The company acquired the option to purchase up to an additional $10,000,000 of the Common Stock, at a price per share to be determined by the 30-day trailing volume weighted average price of the Common Stock, calculated from the date of exercise.

The Option is exercisable by the Investors any time after the closing of the SPOA, until the earliest of (i) December 29, 2028, (ii) a change of control of the Company, or (iii) a sale of substantially all of the Company?s assets. Among other limitations, the Option may only be exercised to the extent that the Common Stock issuable pursuant to such exercise would not exceed 19.9% of the Common Stock outstanding immediately after giving effect to such exercise. The transaction has anticipation of potential regulatory approval