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- Going Concern (worsened) — Cash declined to $2.7M with negative working capital of $4.1M, and the company states current resources will not fund operations for the next twelve months.
- Bridge Loan Terms (new) — New $1M bridge loan carries 4% per 30-day interest and 50% original issue discount, with mandatory prepayment from offering proceeds.
- Director Conflict of Interest (new) — Board member Dr. Phillip Frost, who settled an SEC action in 2019 and owns 35.3% of the company, was involved in negotiating the merger terms.
NIMU sets $15.50 IPO price, $125M raise; merger terms revised to 96.5% Gravitics ownership
Filed August 20, 2026 · Compared to S-1 Jul 20, 2026 · ~1 min read
Key Changes
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high
Offering priced at $15.50/share for $125M gross proceeds; underwriter discount 6.5% ($8.1M), net proceeds $116.9M before expenses.
Offering verify on EDGAR → -
high
Merger ownership split revised to 96.5% Gravitics / 3.5% NIMS, up from 95.5%/4.5%; exchange ratio increased to 1.21373.
Prospectus Summary verify on EDGAR → -
high
Gravitics cash fell to $2.7M with negative working capital of $4.1M; going concern doubt raised.
MD&A verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 30, 2026 · How we verify