The offering, structured as an at-the-market transaction under Nasdaq rules, includes 5,633,009 shares of common stock or pre-funded warrants. Each share comes with a warrant to purchase an additional share at the same $0.7101 price point. These warrants become exercisable following stockholder approval and carry a five-year expiration term. Maxim Group LLC is serving as the sole placement agent for the deal.

Aethlon plans to allocate the net proceeds toward core operations, including research and development, clinical trial costs, and general working capital. Beyond internal development, the company signaled potential interest in using the capital to acquire or license complementary technologies and assets. The offering follows a registration statement on Form S-1 that the Securities and Exchange Commission declared effective on July 6, 2026.