Common Stock Warrants |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock Warrants [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock Warrants | 13. Common Stock Warrants
In connection with the Merger, all outstanding Legacy Ionetix common stock warrants were assumed by the Company and converted into warrants to purchase shares of the Company’s common stock, with the number of underlying shares and exercise price adjusted based on the Conversion Ratio. The converted warrants otherwise continued to be subject to substantially the same terms and conditions applicable to such warrants immediately prior to the Merger.
The following table summarizes common stock warrant activity for the six months ended June 30, 2026:
During the six months ended June 30, 2026, the Company issued an aggregate 5,250,146 common stock warrants, consisting of 876,863 common stock warrants issued in connection with SAFEs, as described in Note 7 SAFE Liability; 3,230,558 warrants issued upon settlement of a contingent equity arrangement associated with a SAFE, as described in Note 7, SAFE Liability; 210,588 common stock warrants issued in connection with promissory notes, as described in Note 5 Short-Term Debt; 876,983 common stock warrants issued to placement agents in connection with the private placement financing, as described in Note 11, Stockholders’ Equity (Deficit); and 55,154 warrants resulting from the conversion of the Legacy Ionetix preferred stock warrants upon the closing of the Merger, as described in Note 5, Short-Term Debt. The warrants issued in connection with SAFEs, promissory notes and the settlement of the contingent equity arrangement have an exercise price of $0.02 per share after giving effect to the Conversion Ratio and a contractual term of ten years. The warrants resulting from the conversion of the Legacy Ionetix preferred stock warrants have an exercise price of $2.79 per share after giving effect to the Conversion Ratio and a contractual term of ten years. The placement agent warrants have an exercise price of $3.00 per share and a contractual term of five years.
The fair value of common stock warrants issued was estimated using the following assumptions:
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