GeoVax Labs, Inc. entered into inducement letters with existing warrant holders to exercise 634,658 shares of common stock. The exercise price for these existing warrants was reduced to $1.36 per share. This transaction is expected to generate approximately $863,000 in gross proceeds for the company. In consideration, the company will issue new unregistered warrants to purchase up to 1,269,316 shares of common stock (200% of the exercised shares). The new warrants will have an exercise price of $1.36 per share and a term of five years from the stockholder approval date. Stockholder approval is required for the issuance of the new warrants, with a meeting planned by May 21, 2026. Net proceeds are intended for general corporate purposes.