This prospectus relates to the offer and sale from time to time of up to 1,379,668 shares of common stock, par value $0.005 per share, by Lincoln Park Capital Fund, LLC, or the selling stockholder. The shares offered by the selling stockholder consist of shares of common stock that have been, or may be, issued to the selling stockholder pursuant to a purchase agreement we entered into with the selling stockholder as of April 26, 2021, or the Purchase Agreement.

We are not selling any of the shares of common stock offered by this prospectus, and we will not receive any proceeds from resales of those shares. Under the Purchase Agreement, however, we have issued 56,041 shares to the selling stockholder as consideration for entering into the Purchase Agreement and we may elect, subject to satisfaction of specified conditions, to require the selling stockholder to purchase from time to time additional shares of common stock for a total purchase price of up to $20,000,000.

The common stock is listed on the NYSE American under the symbol “BTX.” On April 29, 2021, the closing sale price of the common stock as reported on the NYSE American was $34.22. You are urged to obtain current market quotations for the common stock.

Our business and an investment in the common stock involve significant risks. See “Risk Factors” on page 6.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.

The selling stockholder is an “underwriter” within the meaning of Section 2(a)(11) of the Securities Act of 1933. The selling stockholder may sell the shares of common stock offered by this prospectus in a number of different ways and at varying prices, as described in “Plan of Distribution” on page 25.

We have agreed to bear all of the expenses incurred in connection with the registration of the shares of common stock offered by this prospectus. The selling stockholder will pay or assume any discounts, commissions, or fees of underwriters, selling brokers or dealer managers incurred in connection with its sales of the shares.

As a “smaller reporting company” under applicable rules of the Securities and Exchange Commission, we have elected to comply with certain reduced public company disclosure requirements for this prospectus and other filings with the Securities and Exchange Commission. See “Prospectus Summary—Implications of Being a Smaller Reporting Company.”

The date of this prospectus is    , 2021.

This prospectus is part of a registration statement that we filed with the Securities and Exchange Commission. Before making your investment decision, we urge you to carefully read this prospectus and all of the information contained in the documents incorporated by reference in this prospectus, as well as the additional information described under the headings “Where You Can Find More Information.”

To the extent there is a conflict between the information contained in this prospectus, on the one hand, and the information contained in any document incorporated by reference in this prospectus, on the other hand, you should rely on the information in this prospectus, provided that if any statement in one of these documents is inconsistent with a statement in another document having a later date—for example, a document incorporated by reference in this prospectus—the statement in the document having the later date modifies or supersedes the earlier statement.

We further note that the representations, warranties and covenants made by us in any agreement that is filed as an exhibit to any document that is incorporated by reference in this prospectus were made solely for the benefit of the parties to such agreement, including, in some cases, for the purpose of allocating risk among the parties to such agreement, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations, warranties or covenants were accurate only as of the date when made. Accordingly, such representations, warranties and covenants should not be relied on as accurately representing the current state of our affairs.

We have not, and the selling stockholder has not, authorized anyone to provide you with any information or to make any representations other than that contained in or incorporated by reference in this prospectus, any prospectus supplement or in any related free writing prospectus filed by us with the Securities and Exchange Commission. This prospectus does not constitute an offer to sell or the solicitation of an offer to buy any securities other than the securities described in this prospectus or an offer to sell or the solicitation of an offer to buy such securities in any circumstances in which such offer or solicitation is unlawful. You should assume that the information appearing in this prospectus is accurate only as of the date on its respective cover, that the information appearing in any applicable free writing prospectus is accurate only as of the date of that free writing prospectus, and that any information incorporated by reference is accurate only as of the date of the document incorporated by reference, unless we indicate otherwise. Our business, financial condition, results of operations and prospects may have changed materially since those dates.

References in this prospectus to “our company,” “our,” “us,” “we” and similar terms refer to Brooklyn ImmunoTherapeutics, Inc. and not, unless the context otherwise requires, subsidiaries of Brooklyn ImmunoTherapeutics, Inc.

Unless the context otherwise requires, this prospectus reflects a one-for-two reverse split of common stock effective as of March 25, 2021.

Our logo design is our trademark. This prospectus also includes trademarks, trade names and service marks that are the property of other organizations. For convenience, our logo appears in this prospectus without the ™ symbol, but those uses are not intended to indicate that we will not assert, to the fullest extent under applicable law, our rights to this trademark.

Investing in common stock involves a high degree of risk. Before you decide to invest in common stock, you should carefully consider the risks described below and the risks described in other filings we make with the Securities and Exchange Commission from time to time, which are incorporated by reference in this prospectus in their entirety, together with the other information in this prospectus and the information and documents incorporated by reference in this prospectus. If any of the risks described in our filings incorporated by reference in this prospectus occur, our business, financial condition, results of operations and future growth prospects could be harmed. In these circumstances, the market price of common stock could decline, and you could lose all or part of your investment.

On April 26, 2021, we entered into a Purchase Agreement with Lincoln Park Capital Fund, LLC, or the selling stockholder, pursuant to which we may elect, subject to specified conditions, to sell to the selling stockholder shares of common stock for an aggregate purchase price of up to $20,000,000. As consideration for the selling stockholder’s commitment to purchase shares of common stock under the Purchase Agreement, we issued to the selling stockholder on April 26, 2021 a total of 56,041 shares of common stock.

The 1,379,668 shares of common stock being offered by this prospectus consist of shares that we have sold, or may sell, to the selling stockholder from time to time on or before   , 2024. The purchase price for common stock that we may sell to the selling stockholder under the Purchase Agreement will fluctuate based on the public trading price of common stock. Depending on market liquidity at the time, sales of those shares may cause the public trading price of common stock to decrease.

We generally have the right to control the timing and amount of any future sales of common stock to the selling stockholder. Sales of shares of common stock, if any, to the selling stockholder will depend upon market conditions and other factors to be determined by us. We ultimately may decide to sell to the selling stockholder all, some or none of the additional shares of common stock that may be available for us to sell pursuant to the Purchase Agreement. Our sales of shares of common stock to the selling stockholder could result in substantial dilution to the interests of other holders of common stock. Additionally, the sale of a substantial number of shares of common stock to the selling stockholder, or the anticipation of such sales, could make it more difficult for us to sell equity or equity-related securities in the future at a time at a price that we might otherwise wish to effect sales, or at all. If and when we do sell shares of common stock to the selling stockholder, after the selling stockholder has acquired the shares, it may resell all, some or none of those shares at any time or from time to time in its discretion.

Although the Purchase Agreement provides that we may sell up to $20,000,000 of common stock to the selling stockholder, only 1,379,668 of the shares that have been or may be issued to the selling stockholder are being offered under this prospectus, of which an aggregate of 56,041 shares have been issued to the selling stockholder and 1,323,627 shares represent shares that we may elect to issue and sell to the selling stockholder in the future under the Purchase Agreement. As a result, depending on the market prices of common stock, we may not be able to sell a number of shares of common stock sufficient to provide us with the full $20,000,000 commitment amount contemplated by the Purchase Agreement.

Pursuant to the terms of the Purchase Agreement, we may be able to issue and sell more shares of common stock to the selling stockholder than can be represented by the 1,379,668 shares of common stock offered by this prospectus. In such case, before we can sell any additional shares to the selling stockholder, we will need to register for resale under the Securities Act of 1933 additional shares of common stock, which will require additional time, resources and cost to us. In addition, the issuance and sale of such additional shares of common stock could cause substantial dilution to our stockholders.

In addition, under the rules of the NYSE American and pursuant to the terms of the Purchase Agreement, in no event may we issue under the Purchase Agreement 20% or more of the number of shares of common stock outstanding unless we obtain stockholder approval or an exception pursuant to the rules of the NYSE American is obtained. This limitation will not apply in certain limited circumstances as set out in the Purchase Agreement. We are not permitted

to issue any shares of common stock under the Purchase Agreement if such issuance would breach our obligations under the rules or regulations of the NYSE American. In addition, the selling stockholder will not be required to purchase any shares of common stock if such sale would result in the selling stockholder’s beneficial ownership exceeding 4.99% of the then-outstanding shares of common stock. Our inability to access a portion or the full amount available under the Purchase Agreement, in the absence of any other financing sources, could have a material adverse effect on our business.

The purchase price of shares of common stock sold to the selling stockholder under the Purchase Agreement is derived from the market price of common stock on the NYSE American. Shares to be sold to the selling stockholder pursuant to the Purchase Agreement will be acquired at a discounted price depending on the type of purchase.

The selling stockholder will effect Regular Purchases (as defined in the Purchase Agreement) under the Purchase Agreement at a price equal to the lower of (a) the lowest sale price of common stock on the applicable purchase date, as reported on the NYSE American, and (b) the arithmetic average of the three lowest closing sale prices of common stock, as reported on the NYSE American, during the ten consecutive business days ending on the business day immediately preceding such purchase date (in each case, to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, share split or other similar transaction that occurs on or after the date of the Purchase Agreement). It will make Accelerated Purchases or Additional Accelerated Purchases (each as defined in the Purchase Agreement) at a price equal to 95% of the lower of (i) the closing sale price of common stock on the NYSE American on the applicable purchase date and (ii) the volume-weighted average price of common stock on the NYSE American on, in the case of an Accelerated Purchase, the applicable purchase date or, in the case of an Additional Accelerated Purchase, during the applicable measurement period on the applicable purchase date. See “Equity Line Transaction—Purchase of Shares under the Purchase Agreement”.

The selling stockholder may sell shares of common stock that it receives under the Purchase Agreement immediately after receipt of the shares, which, as a result of the pricing structure described above, could cause the price of common stock to decrease.

Subject to certain limitations in the Purchase Agreement, the NYSE American regulations and applicable law, we have the discretion to deliver a sales notice to the selling stockholder at any time throughout the term of the Purchase Agreement. The number of shares that are sold will fluctuate based on the market price of the shares of common stock. Because the price per share of each share sold to the selling stockholder will fluctuate based on the market price of common stock, it is not possible at this stage to predict the number of shares that will be ultimately issued under the Purchase Agreement.

The market price for common stock historically has been highly volatile, and the market for common stock has from time to time experienced significant price and volume fluctuations, based both on our operating performance and for reasons that appear to us unrelated to our operating performance. For example, on April 29, 2021, the closing sale price of the common stock as reported on the NYSE American was $34.22. Since March 26, 2021, the interday trading price of common stock has varied between a low of $3.59 on April 1, 2021 and a high of $54.24 on April 28, 2021. During this time, we did not make any announcements regarding our financial condition or results of operations. We may continue to incur rapid and substantial increases or decreases in the price of common stock in the foreseeable future that are do not coincide in timing with the disclosure of news or developments by us.

In addition, the market price of common stock may fluctuate significantly in response to several factors, including:

The realization of any of the foregoing could have a dramatic and adverse impact on the market price of common stock.

As of April 29, 2021, there were, in addition to the shares of common stock that may be sold under the Purchase Agreement, (a) 3,238,188 shares of common stock reserved for issuance upon the exercise of outstanding stock options with exercise prices ranging from $4.86 to $55.00 at weighted average exercise price of $8.08, (b) 3,368,804 shares of common stock reserved for issuance under our 2020 Stock Incentive Plan, and (c) 156,112 shares of outstanding Series A convertible preferred stock outstanding which were then convertible into approximately 42,027 shares of common stock. Registration statements registering the shares of common stock underlying the outstanding options are currently effective. Generally, the shares of common stock issuable upon conversion of Series A convertible preferred stock, which the holders may do at any time, may be sold under Rule 144 of the Securities Act of 1933. Accordingly, a significant number of shares of common stock could be sold at any time. Depending on market liquidity at the time common stock is resold by the holders thereof, such resales could cause the trading price of common stock to decline. In addition, our agreement with the selling stockholder and the sale of a substantial number of shares of common stock, or anticipation of such sales, including sales by the selling stockholder, could make it more difficult for us to obtain future financing. To the extent the trading price of common stock at the time any of our outstanding options are exercised exceeds their exercise price or at the time any of the outstanding shares of Series A convertible preferred stock are converted exceeds their conversion price, such exercise or conversion will have a dilutive effect on our stockholders.

We may raise additional capital at any time and may do so through one or more financing alternatives, including , including by selling shares of common stock to the selling stockholder under the Purchase Agreement and other public or private sales of equity or debt securities directly to investors or through underwriters or placement agents. See “Our ability to raise capital may be limited by applicable laws and regulations.” Raising capital through the issuance of common stock (or securities convertible into or exchangeable or exercisable for shares of common stock) may depress the market price of common stock and may substantially dilute our existing stockholders. In addition, our board of directors may issue preferred stock with rights, preferences and privileges senior to those of the holders of common stock. Debt financings could involve covenants that restrict our operations. These restrictive covenants may include limitations on additional borrowing and specific restrictions on the use of our assets, as well as prohibitions on our ability to create liens or make investments and may, among other things, preclude us from making distributions to stockholders (either by paying dividends or redeeming stock) and taking other actions beneficial to our stockholders. In addition, investors could impose more one-sided investment terms on companies that have or are perceived to have limited remaining funds or limited ability to raise additional funds. The lower our cash balance, the more difficult it is likely to be for us to raise additional capital on commercially reasonable terms, or at all.

Certain provisions of our certificate of incorporation could make it more difficult for a third party to acquire control of us, even if such a change in control would benefit our stockholders, or to make changes in the board of directors. For example, our certificate of incorporation (a) prohibits stockholders from filling vacancies on the board, calling special stockholder meetings, or taking action by written consent and (b) requires a supermajority vote of at least 80% of the total voting power of our outstanding shares, voting together as a single class, to remove our directors from office or to amend provisions relating to stockholders taking action by written consent or calling special stockholder meetings.

Additionally, our certificate of incorporation and bylaws contain provisions that could delay or prevent a change of control of our company. Some provisions:

Our bylaws provide that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or if the Court of Chancery does not have jurisdiction, the federal district court for the District of Delaware) shall be the sole and exclusive forum for (a) any derivative action or proceeding brought on our behalf, (b) any action asserting a claim of breach of a fiduciary duty owed by any of our directors or officers to our company or stockholders, (c) any action asserting a claim against us arising pursuant to any provision of the Delaware General Corporation Law or our certificate of incorporation or amended and restated bylaws, or (d) any action asserting a claim against us governed by the internal affairs doctrine. We do not expect this choice of forum provision will apply to suits brought to enforce a duty or liability created by the Securities Act, the Securities Exchange Act of 1934, or the Exchange Act, or any other claim for which federal courts have exclusive jurisdiction. Although our bylaws contain the choice of forum provision described above, it is possible that a court could rule that such a provision is inapplicable for a particular claim or action or that such provision is unenforceable.

By becoming a stockholder in our company, you will be deemed to have notice of and have consented to the provisions of our bylaws related to choice of forum. The choice of forum provision in our bylaws may limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or any of our directors, officers, other employees, agents or stockholders, which may discourage lawsuits with respect to such claims. Alternatively, if a court were to find the choice of forum provision contained in our bylaws to be inapplicable or unenforceable in an action, we may incur additional costs associated with resolving such action in other jurisdictions, which could harm our business, results of operations and financial condition.

The trading market for common stock will depend in part on the research and reports that securities or industry analysts publish about us or our business. If one or more of the analysts who cover us downgrade the common stock or publish inaccurate or unfavorable research about our business, the common stock price would likely decline. In addition, if one or more of these analysts ceases coverage of the common stock or fails to publish reports about the common stock on a regular basis, we could lose visibility in the financial markets, which in turn could cause the common stock price or trading volume to decline.

We are subject to the reporting requirements of the Securities Exchange Act, the Sarbanes-Oxley Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act, the listing requirements of the NYSE American, and other rules and regulations of the Securities and Exchange Commission. We are working with our legal, independent accounting and financial advisors to identify those areas in which changes should be made to our financial and management control systems to manage our growth and our obligations as a public reporting company. These areas include corporate governance, corporate control, disclosure controls and procedures, and financial reporting and accounting systems. We have made, and will continue to make, changes in these and other areas. Compliance with the various reporting and other requirements applicable to public reporting companies will require considerable time, attention of management and financial resources. In addition, the changes we make may not be sufficient to allow us to satisfy our obligations as a public reporting company on a timely basis.

The listing requirements of the NYSE American require that we satisfy certain corporate governance requirements relating to director independence, distributing annual and interim reports, stockholder meetings, approvals and voting, soliciting proxies, conflicts of interest and a code of conduct. Our management and other personnel will need to devote a substantial amount of time to ensure that we comply with all of these requirements. The reporting requirements, rules and regulations will increase our legal and financial compliance costs and will make some activities more time-consuming and costly. These reporting requirements, rules and regulations, coupled with the increase in potential litigation exposure associated with being a public company, could also make it more difficult for us to attract and retain qualified persons to serve as our directors or executive officers, or to obtain certain types of insurance, including director and officer liability insurance, on acceptable terms.

Short selling is the practice of selling securities that a seller does not own but rather has borrowed, or intends to borrow, from a third party with the intention of buying identical securities at a later date to return to the lender. A short seller hopes to profit from a decline in the value of the securities between the sale of the borrowed securities and the purchase of the replacement shares, as the short seller expects to pay less in that purchase than it received in the sale. As it is in the short seller’s interest for the price of the stock to decline, some short sellers publish, or arrange for the publication of, opinions or characterizations regarding the relevant issuer, its business prospects and similar matters calculated to or which may create negative market momentum, which may permit them to obtain profits for themselves as a result of selling the securities short. The use of the Internet, social media, and blogging have allowed short sellers to publicly attack a company’s credibility, strategy and veracity by means of so-called “research reports” that mimic the type of investment analysis performed by legitimate securities research analysts. Issuers with limited trading volumes or substantial retail stockholder bases can be particularly susceptible to higher volatility levels, and can be particularly vulnerable to such short attacks.

Short seller publications are not regulated by any governmental or self-regulatory organization or any other official authority in the United States and are not subject to the certification requirements imposed by the SEC in Regulation Analyst Certification. Accordingly, the opinions they express may be based on distortions of actual facts or, in some cases, outright fabrications. In light of the limited risks involved in publishing such information, and the significant profits that can be made from running successful short attacks, short sellers will likely continue to issue such reports. Short-seller publications may create the appearance or perception of wrongdoing, even when they are not substantiated, and may therefore affect the reputation or perception of our company and management.

While we intend to strongly defend our public filings against any such short seller attacks, in many situations we could be constrained, for example, by principles of freedom of speech, applicable state law or issues of commercial

confidentiality, in the manner in which we are able to proceed against the relevant short seller. Such short-seller attacks may cause temporary, or possibly long term, declines in the market price of common stock and possible litigation initiated against us.

If the common stock were delisted or suspended from trading on the NYSE American, it may be subject to the so-called “penny stock” rules. The Securities and Exchange Commission has adopted regulations that define a “penny stock” to be any equity security that has a market price per share of less than $5.00, subject to certain exceptions, such as any securities listed on a national securities exchange. For any transaction involving a “penny stock,” unless exempt, the rules impose additional sales practice requirements on broker-dealers, subject to certain exceptions. If the common stock were delisted and determined to be a “penny stock,” a broker-dealer may find it more difficult to trade common stock and an investor may find it more difficult to acquire or dispose of common stock.

This prospectus and the information incorporated by reference in this prospectus include “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934. These statements are based on expectations, estimates, forecasts and projections about the industry in which we operate and the beliefs and assumptions of management. The words “anticipate,” “believe,” “goals,” “seek,” “estimate,” “expect,” “hypothesize,” “intend,” “may,” “might,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The forward-looking statements in this prospectus and the information incorporated by reference in this prospectus include statements about:

We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in our forward-looking statements. We have included important factors in the cautionary statements included, or incorporated by reference, in this prospectus, particularly in “Risk Factors,” that we believe could cause actual results or events to differ materially from our forward-looking statements. You should also carefully review the risk factors and cautionary statements described in the other documents we file from time to time with the SEC that are incorporated in this prospectus by reference, specifically our most recent Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, collaborations, joint ventures or investments to which we may be a party.

You should read this prospectus, the documents incorporated by reference in this prospectus and the documents that we have filed as exhibits to the registration statement of which this prospectus forms a part completely and with the understanding that our actual future results may be materially different from what we expect. The forward-looking statements contained in this prospectus and incorporated by reference in this prospectus are made as of the respective dates thereof, and we do not assume any obligation to update any forward-looking statements except as required by applicable law.

This prospectus relates to shares of common stock that may be offered and sold from time to time by Lincoln Park Capital Fund, LLC, or the selling stockholder. We are not selling any securities under this prospectus, and we will not receive any proceeds from sales of shares by the selling stockholder.

Under the Purchase Agreement, however, we may elect, subject to satisfaction of specified conditions, to require the selling stockholder to purchase from time to time additional shares of common stock for a total purchase price of up to $20,000,000. We are obligated to pay to Maxim Group LLC, our financial adviser, a fee of 3.0% of the purchase price we receive from the selling stockholder in connection with each purchase of shares of common stock, including the issuance of the Commitment Shares, under the Purchase Agreement.

Any funds we receive from our sales of shares to the selling stockholder under the Purchase Agreement will be used for general corporate purposes, which may include working capital and capital expenditures, research and development expenses, including clinical trial costs, general and administrative expenses, potential acquisition of, or investment in, companies, technologies, products or assets that complement our business, and repayment and refinancing of debt.

Pending use of funds we receive from sales of shares of common stock to the selling stockholder, we intend to invest the net amount of those funds in short-term, investment-grade, interest-bearing instruments, certificates of deposit, or direct or guaranteed obligations of the U.S. government. We have not determined the specific amounts to be used for such purposes, and as a result, management will retain broad discretion over the allocation of any funds we receive from any sale of shares to the selling stockholder under the Purchase Agreement.

Our sale of shares of common stock to the selling stockholder pursuant to the Purchase Agreement will have a dilutive impact on our stockholders. In addition, the lower the price of common stock is at the time we exercise our right to sell shares to the selling stockholder, the more shares of common stock we will have to issue to the selling stockholder pursuant to the Purchase Agreement and the more dilution our existing stockholders will experience.

Dilution represents the difference between the amount per share paid by the selling stockholder to us pursuant to the Purchase Agreement and the as adjusted pro forma net tangible book value per share of common stock immediately after those issuances to the selling stockholder.

The net tangible book value of common stock as of December 31, 2020 was $(0.5) million, or $(0.36) per share of common stock. Net tangible book value per share of common stock is determined by dividing our total tangible assets, less total liabilities, by the number of shares of common stock outstanding on an as-converted basis.

The pro forma net tangible book value of common stock as of December 31, 2020 was $(13.1) million, or $(0.31) per share of common stock. The pro forma net tangible book value gives effect to:

The as adjusted pro forma net tangible book value of common stock as of December 31, 2020 would have been $6.1 million, or $0.14 per share of common stock. The as adjusted pro forma net tangible book value gives effect to the issuance of an aggregate of 56,041 shares of common stock, or the Commitment Shares, issued to the selling stockholder on April 26, 2021 as consideration for the selling stockholder’s commitment to purchase additional shares under the Purchase Agreement and assumes the sale of 584,453 shares of common stock to the selling stockholder pursuant to the Purchase Agreement at an assumed average sale price of $34.22 per share, the closing sale price of common stock on the NYSE American on April 29, 2021, after deducting our 3.0% financial advisory fee and our estimated offering expenses. This represents an immediate increase in as adjusted pro forma net tangible book value of $0.50 per share to existing stockholders and an immediate dilution of $34.08 per share to investors based on the assumed average sale price of $34.22 per share.

To the extent that options outstanding as of December 31, 2020 have been or may be exercised or other shares are issued, investors purchasing shares of common stock in this offering may experience further dilution. In addition, we may choose to raise additional capital due to market conditions or strategic considerations, even if we believe we have sufficient funds for our current or future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance of these securities could result in further dilution to our stockholders.

On April 26, 2021, we entered into a Purchase Agreement and a Registration Rights Agreement with the selling stockholder. The Purchase Agreement provides that we may elect, subject to satisfaction of specified conditions, to require the selling stockholder to purchase from time to time shares of common stock for up to an aggregate of $20,000,000 on or before     , 2024. Pursuant to the terms of the Registration Rights Agreement, we have filed the registration statement of which this prospectus forms a part to register for resale under the Securities Act of 1933, or the Securities Act, a total of 1,379,668 shares of common stock that have been, or may be, issued to the selling stockholder under the Purchase Agreement.

Pursuant to the terms of the Purchase Agreement, we issued to the selling stockholder on April 26, 2021 the 56,041 Commitment Shares as consideration for the selling stockholder’s commitment to purchase additional shares of common stock under the Purchase Agreement. The Commitment Shares are included in the 1,379,668 shares of common stock registered under the registration statement of which this prospectus forms a part.

Under the terms of the Purchase Agreement, we have the right, but not the obligation, to sell to the selling stockholder, and upon our request the selling stockholder will be obligated to purchase from us, shares of common stock for a cumulative total purchase price of $20,000,000. Any such sales of common stock by us will be subject to specified conditions and may occur from time to time, at our election, on or before     , 2024, subject to conditions specified in the Purchase Agreement. The selling stockholder has no right to require us to sell any shares of common stock to it, but it is obligated to make purchases as we elect, subject to conditions set forth in the Purchase Agreement. We are obligated to pay to Maxim Group LLC, our financial adviser, a fee of 3.0% of the purchase price we receive from the selling stockholder in connection with each purchase of shares of common stock, including the issuance of the Commitment Shares, under the Purchase Agreement.

A total of 1,379,668 shares of common stock that have been, or may be, issued to the selling stockholder are being offered by this prospectus. Depending on the market prices of common stock at the various times we may elect to sell shares to the selling stockholder under the Purchase Agreement, we may be required, under the Registration Rights Agreement, to register for resale under the Securities Act additional shares of common stock that we may sell to the selling stockholder in order for us to receive the total commitment of $20,000,000 available under the Purchase Agreement. If we elect to issue and sell to the selling stockholder more than the 1,379,668 shares offered under this prospectus, which we have the right, but not the obligation, to do, we must first register for resale under the Securities Act any such additional shares, which could cause additional substantial dilution to our stockholders. The number of shares ultimately offered for resale by the selling stockholder is dependent upon the number of shares we sell to the selling stockholder under the Purchase Agreement.

Under applicable rules of the NYSE American, we would not be able to sell to the selling stockholder under the Purchase Agreement more than 8,297,055 shares of common stock (including the Commitment Shares), which represents 19.99% of the 41,506,031 shares of common stock outstanding immediately prior to the execution of the Purchase Agreement and which we refer to as the Exchange Cap, unless (a) we obtain stockholder approval to issue shares of common stock in excess of the Exchange Cap or (b) the price of all applicable sales of common stock to the selling stockholder under the Purchase Agreement equals or exceeds the lower of (i) the official closing price on the NYSE American immediately preceding the delivery by us of an applicable purchase notice under the Purchase Agreement and (ii) the average of the closing prices of common stock on the NYSE American for the five business days immediately preceding the delivery by us of an applicable purchase notice under the Purchase Agreement, in each case plus $0.039, such that the issuances and sales of common stock to the selling stockholder under the Purchase Agreement would be exempt from the Exchange Cap limitation under applicable rules of the NYSE American.

Under the Purchase Agreement, we may not require the selling stockholder to purchase any shares of common stock if those shares, when aggregated with all other shares of common stock then beneficially owned by the selling stockholder and its affiliates, would result in the selling stockholder and its affiliates having beneficial ownership, at any single point in time, of more than 4.99% of the then total outstanding shares of common stock, which limitation we refer to as the Beneficial Ownership Cap.

Under the Purchase Agreement, we may elect from time to time, subject to specified conditions, to require the selling stockholder to purchase on any single business day, on which the closing price of common stock is equal to or greater than $1.00, which we refer to as a Regular Purchase, (a) up to 60,000 shares of common stock, (b) if the closing sale price of common stock on the NYSE American is at least $5.50 per share, up to 80,000 shares of common stock or (c) if the closing sale price of common stock on the NYSE American is at least $7.00 per share, up to 120,000 shares of common stock. In no case, however, will the selling stockholder’s commitment with respect to any single Regular Purchase exceed $1,000,000. The foregoing share amounts and per share prices will be adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction occurring after the date of the Purchase Agreement with respect to common stock.

The purchase price per share for each such Regular Purchase will be equal to the lower of:

We may also require the selling stockholder, on any business day on which we have properly submitted a Regular Purchase notice for the maximum number of shares of common stock that we are then permitted to include in a single Regular Purchase notice, to purchase an additional number of shares of common stock, which we refer to as an Accelerated Purchase, not to exceed the lesser of:

The purchase price per share for each such Accelerated Purchase will be equal to 95% of the lower of:

We may also require the selling stockholder on any business day on which an Accelerated Purchase has been completed and all of the shares to be purchased thereunder (and under the corresponding Regular Purchase) have been properly delivered to the selling stockholder in accordance with the Purchase Agreement prior to such time on such business day, to purchase an additional number of shares of common stock, which we refer to as an Additional Accelerated Purchase, of up to the lower of:

We may elect to submit multiple Additional Accelerated Purchase notices to the selling stockholder on a single Accelerated Purchase date, provided that all prior Accelerated Purchases and Additional Accelerated Purchases

(including those that have occurred earlier on the same day) have been completed and all of the shares to be purchased thereunder (and under the corresponding Regular Purchase) have been properly delivered to the selling stockholder in accordance with the Purchase Agreement.

The purchase price per share for each such Additional Accelerated Purchase will be equal to 95% of the lower of:

In the case of Regular Purchases, Accelerated Purchases and Additional Accelerated Purchases, the purchase price per share will be equitably adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction occurring during the business days used to compute the purchase price.

Other than as described above, there are no trading volume requirements or restrictions under the Purchase Agreement, and we will control the timing and amount of any sales of common stock to the selling stockholder.

Events of default under the Purchase Agreement include the following:

The selling stockholder does not have the right to terminate the Purchase Agreement upon any of the events of default set forth above, but the Purchase Agreement will automatically terminate upon initiation of insolvency or bankruptcy proceedings by or against us. During any of the events of default, all of which are outside of the selling stockholder’s control, we may not require the selling stockholder to purchase any shares of common stock under the Purchase Agreement.

We have the unconditional right, at any time, for any reason and without any payment or liability to us, to give notice to the selling stockholder to terminate the Purchase Agreement.

The selling stockholder has agreed that neither it nor any of its affiliates shall engage in any direct or indirect short-selling or hedging of common stock during any time prior to the termination of the Purchase Agreement.

Subject to specified exceptions included in the Purchase Agreement, we are limited in our ability to enter into any new “equity line” or similar transaction whereby an investor is irrevocably bound to purchase securities over a period of time from us at a price based on the market price of common stock at the time of such purchase.

All shares of common stock registered for resale in the offering made by this prospectus that have been, or may be, issued or sold by us to the selling stockholder under the Purchase Agreement are expected to be freely tradable. The sale by the selling stockholder of a significant number of shares of common stock registered for resale in this offering at any given time could cause the market price of common stock to decline and to be highly volatile. Sales of common stock to the selling stockholder, if any, will depend upon market conditions and other factors to be determined by us. We may ultimately decide to sell to the selling stockholder all, some or none of the shares of common stock, other than the Commitment Shares, that may be available for us to sell pursuant to the Purchase Agreement. If and when we do sell shares to the selling stockholder, after the selling stockholder has acquired the shares, the selling stockholder may resell all, some or none of those shares at any time or from time to time in its discretion. Therefore, sales to the selling stockholder by us under the Purchase Agreement may result in substantial dilution to the interests of our other stockholders. In addition, if we sell a substantial number of shares to the selling stockholder under the Purchase Agreement, or if investors expect that we will do so, the actual sales of shares or the mere existence of our arrangement with the selling stockholder may make it more difficult for us to sell equity or equity-related securities in the future at a time and at a price that we might otherwise wish to effect such sales. We generally have the right to control the timing and amount of any future sales of common stock to the selling stockholder, however, and we may terminate the Purchase Agreement at any time without any cost to us.

Pursuant to the terms of the Purchase Agreement and as of the date hereof, we have the right, but not the obligation, to require the selling stockholder to purchase shares of common stock for a cumulative total purchase price of up to $20,000,000. Depending on the price per share at which we sell common stock to the selling stockholder pursuant to the Purchase Agreement, we may need to sell to the selling stockholder under the Purchase Agreement more shares of common stock than are offered under this prospectus in order to receive aggregate gross funds equal to the total commitment available to us under the Purchase Agreement. If we choose to do so, we must first register for resale under the Securities Act such additional shares of common stock, which could cause additional substantial dilution to our stockholders. The number of shares ultimately offered for resale by the selling stockholder is dependent upon the number of shares we sell to the selling stockholder under the Purchase Agreement.

The following table sets forth information assuming we sell to the selling stockholder under the Purchase Agreement the maximum number of shares offered by this prospectus, other than the Commitment Shares, at varying purchase prices:

This prospectus relates to the possible resale by the selling stockholder of shares of common stock that we have issued, or may issue, to the selling stockholder pursuant to the Purchase Agreement. We are filing the registration statement of which this prospectus forms a part pursuant to the provisions of the Registration Rights Agreement we entered into with the selling stockholder on April 26, 2021. The selling stockholder may, from time to time, offer and sell pursuant to this prospectus up to 1,379,668 shares of common stock that we have issued to the selling stockholder under the Purchase Agreement. The selling stockholder may sell some, all or none of the shares of common stock it acquires under the Purchase Agreement. We cannot estimate or predict how long the selling stockholder will hold shares of common stock before selling them, and we have no agreements, arrangements or understandings with the selling stockholder regarding the sale of any of the shares acquired by the selling stockholder under the Purchase Agreement. See “Plan of Distribution.”

The table below sets forth, to our knowledge, information concerning the beneficial ownership of shares of common stock as of April 29, 2021 by:

Beneficial ownership is determined in accordance with the rules of the SEC and includes voting or investment power with respect to shares of common stock. The percentages of shares of common stock owned are based on 41,562,072 shares of common stock outstanding as of April 29, 2021. The information in the table below with respect to the selling stockholder has been obtained from the selling stockholder.

The following description of our capital stock is intended as a summary only and therefore is not complete. This description is based upon, and is qualified by reference to, our certificate of incorporation and bylaws, each as amended from time to time, and by applicable provisions of the Delaware General Corporation Law. You should read our certificate of incorporation and bylaws, which are filed as exhibits to the registration statement of which this prospectus forms a part, for the provisions that are important to you.

Our authorized capital stock consists of 100,000,000 shares of common stock, par value $0.005 per share, and 1,000,000 shares of preferred stock, par value $0.005 per share. A total of 156,112 shares of preferred stock have been designated as Series A convertible preferred stock. The following description of our capital stock and provisions of our certificate of incorporation and bylaws are summaries and are qualified by reference to our certificate of incorporation and bylaws. As of April 29, 2021, 41,562,072 shares of common stock were outstanding and 156,112 shares of Series A convertible preferred stock were outstanding.

Voting Rights. Each holder of common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders, including the election of directors. Votes may be cast in person or by proxy. Stockholders do not have cumulative voting rights with respect to election of directors.

Dividends. Holders of common stock are entitled to receive proportionately any dividends as may be declared and paid on common stock from funds lawfully available therefor as and when determined by the board of directors, subject to any preferential dividend rights of outstanding preferred stock.

Liquidation and Dissolution. In the event of our liquidation or dissolution, the holders of common stock are entitled to receive proportionately all assets available for distribution to stockholders after the payment of all debts and other liabilities and subject to the prior rights of any outstanding preferred stock.

Other Rights. Holders of common stock have no preemptive, subscription, redemption or conversion rights. The rights, preferences and privileges of holders of common stock are subject to and may be adversely affected by the rights of the holders of shares of any series of preferred stock. Outstanding shares of common stock are non-assessable. Holders of common stock are not, and will not be, subject to any liability as stockholders.

Voting Rights. Series A convertible preferred stock has no voting rights.

Dividends. The holders of Series A convertible preferred stock are entitled to receive cumulative dividends of $0.10 per share per annum, payable semiannually in equal installments of $0.05 per share on June 1 and December 1 of each year.

Liquidation and Dissolution. Upon liquidation, dissolution and winding up, each share of Series A convertible preferred stock will have preference over common stock to the extent of $1.00 per share, but will not otherwise be entitled to share in the proceeds of any liquidation, dissolution or winding up. The preference or subordination of the rights of Series A convertible preferred stock with respect to any other class of stock, or any other series of preferred stock, shall be as stated in the instrument defining the rights of such other class or series.

Conversion Rights. Shares of Series A convertible preferred stock are convertible at any time at the option of the holder into a number of duly authorized, validly issued, fully paid and nonassessable shares of common stock equal to the number of shares of Series A convertible preferred stock surrendered for conversion divided by the conversion rate, which is approximately 3.7145 as of April 29, 2021 and which is subject to certain adjustments. No fractional shares shall be issued upon conversion of Series A convertible preferred stock, and any portion of a share of Series A convertible preferred stock that would otherwise be convertible into a fractional share shall be paid in cash in the amount of the liquidation preference of the fractional share. No payment or adjustment shall be made upon any conversion on account of any cash dividends on the common stock issued upon such conversion.

Our certificate of incorporation and bylaws and the Delaware General Corporation Law contain provisions that could have the effect of delaying, deferring or discouraging another party from acquiring control of us. These provisions, which are summarized below, are expected to discourage coercive takeover practices and inadequate takeover bids and are designed in part to encourage persons seeking to acquire control of us to first negotiate with the board of directors.

Our certificate of incorporation provides that the number of directors is established by the board of directors, which may delay the ability of stockholders to change the composition of a majority of the board. The board has the exclusive right to elect a director to fill any vacancy or newly created directorship.

A director may be removed only by the affirmative vote of the holders of at least 80% of the voting power of all shares entitled to vote generally in the election of directors, voting together as a single class.

Our certificate of incorporation provides that any action required or permitted to be taken by our stockholders must be effected at a duly called annual or special meeting of such holders and may not be effected by any consent in writing by such holders. Our certificate of incorporation and bylaws also provide that, except as otherwise required by law, special meetings of our stockholders can only be called by the board of directors. These provisions may delay the ability of our stockholders to force consideration of a proposal or to take action, including the removal of directors.

Our bylaws establish an advance notice procedure for stockholder proposals to be brought before an annual meeting of stockholders, including proposed nominations of persons for election to the board of directors. Stockholders at an annual meeting may consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction of the board or by a stockholder of record on the record date for the meeting who is entitled to vote at the meeting and who has delivered timely written notice in proper form to our secretary of the stockholder’s intention to bring such business before the meeting. These provisions could have the effect of delaying until the next stockholder meeting stockholder actions that are favored by the holders of a majority of our outstanding voting securities.

We are subject to Section 203 of the Delaware General Corporation Law. Subject to certain exceptions, Section 203 prevents a publicly held Delaware corporation from engaging in a “business combination” with any “interested stockholder” for three years following the date that the person became an interested stockholder, unless the interested stockholder attained such status with the approval of the board of directors or unless the business combination is approved in a prescribed manner. A “business combination” includes, among other things, a merger or consolidation involving us and the “interested stockholder” and the sale of more than 10% of our assets. In general, an “interested stockholder” is any entity or person beneficially owning 15% or more of our outstanding voting stock and any entity or person affiliated with or controlling or controlled by such entity or person.

Any provision of our certificate of incorporation may be amended, altered, changed or repealed in any manner prescribed by law, provided that (a) the affirmative vote of the holders of at least 80% of the voting power of all shares entitled to vote generally in the election of directors, voting together as a single class, is required to alter, amend, or repeal, or adopt any provision inconsistent with Article X of the certificate of incorporation, which contains the prohibition on stockholder action by written consent and the requirement that special meetings be called only by the board of directors, and (b) Article XI of the certificate of incorporation, which provides that, subject to certain exceptions, no purchase by or from any Controlling Person (as defined below) of shares of our stock owned by such

Controlling Person shall be made at a price exceeding the average price paid by such Controlling Person for all shares of our stock acquired by such Controlling Person during the two-year period preceding the date of such proposed purchase unless such purchase is approved by the affirmative vote of not less than a majority of the voting power of the shares of our stock entitled to vote held by Disinterested Stockholders (as defined below), may not be amended without the affirmative vote of not less than a majority of the our stock entitled to vote thereon, provided that if, at the time of such vote, there shall be one or more Controlling Persons, such affirmative vote shall include the affirmative vote in favor of such amendment of not less than a majority of the voting power of the shares of our stock entitled to vote thereon held by Disinterested Stockholders. “Controlling Person” means any individual, corporation, partnership, trust, association or other organization or entity (including any group formed for the purpose of acquiring, voting or holding our securities) which either directly, or indirectly through one or more intermediaries, owns, beneficially or of record, or controls by agreement, voting trust or otherwise, at least 10% of the voting power of stock, and such term also includes any corporation, partnership, trust, association or other organization or entity in which one or more Controlling Persons have the power, through the ownership of voting securities, by contract, or otherwise, to influence significantly any of the management, activities or policies of such corporation, partnership, trust, association, other organization or entity. “Disinterested Stockholders” means those holders of stock entitled to vote on any matter, none of which is a Controlling Person.

The board may, by majority vote, amend or repeal our bylaws and may adopt new bylaws.

Our stockholders may not adopt, amend, or repeal our bylaws or adopt new bylaws except by the vote or written consent of at least 66-2/3% of the voting power of our company.

Our bylaws provide that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or if the Court of Chancery does not have jurisdiction, the federal district court for the District of Delaware) shall be the sole and exclusive forum for (a) any derivative action or proceeding brought on our behalf, (b) any action asserting a claim of breach of a fiduciary duty owed by any of our directors or officers to our company or stockholders, (c) any action asserting a claim against us arising pursuant to any provision of the Delaware General Corporation Law or our certificate of incorporation or amended and restated bylaws, or (d) any action asserting a claim against us governed by the internal affairs doctrine. We do not expect this choice of forum provision will apply to suits brought to enforce a duty or liability created by the Securities Act, the Securities Exchange Act of 1934, or the Exchange Act, or any other claim for which federal courts have exclusive jurisdiction. Although our bylaws contain the choice of forum provision described above, it is possible that a court could rule that such a provision is inapplicable for a particular claim or action or that such provision is unenforceable.

Our authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval, subject to any limitations imposed by the listing requirements of the NYSE American. These additional shares may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and preferred stock could make it more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

As of April 29, 2021, we had outstanding options to purchase 3,238,188 shares of common stock at a weighted average price $8.08 per share.

The common stock is listed on the NYSE American under the symbol “BTX.”

The transfer agent and registrar for the common stock is American Stock Transfer & Trust Company, LLC.

The shares of common stock offered by this prospectus are being offered by the selling stockholder, which may sell all or a portion of the shares from time to time directly to purchasers or through one or more underwriters, broker-dealers or agents, at market prices prevailing at the time of sale, at prices related to such market prices, at a fixed price or prices subject to change or at negotiated prices, by a variety of methods including the following:

We will pay the expenses incident to the registration and offering of the shares of common stock offered by this prospectus. We have agreed to indemnify the selling stockholder and certain other persons against certain liabilities in connection with the offering of the shares of common stock offered hereby, including liabilities arising under the Securities Act, or, if such indemnity is unavailable, to contribute to amounts required to be paid in respect of such liabilities. The selling stockholder has agreed to indemnify us against liabilities under the Securities Act that may arise from certain written information furnished to us by the selling stockholder specifically for use in this prospectus or, if such indemnity is unavailable, to contribute to amounts required to be paid in respect of such liabilities.

The selling stockholder is an “underwriter” within the meaning of Section 2(a)(11) of the Securities Act.

The selling stockholder has informed us that it intends to use an unaffiliated broker-dealer to effectuate all sales, if any, of the common stock that it may purchase from us pursuant to the Purchase Agreement. Such sales will be made at prices and at terms then prevailing or at prices related to the then current market price. Each such unaffiliated broker-dealer will be an underwriter within the meaning of Section 2(a)(11) of the Securities Act. The selling stockholder has informed us that each such broker-dealer will receive commissions from the selling stockholder that will not exceed customary brokerage commissions.

Brokers, dealers, underwriters or agents participating in the distribution of the shares as agents may receive compensation in the form of commissions, discounts, or concessions from the selling stockholder and/or purchasers of the common stock for whom the broker-dealers may act as agent. The compensation paid to a particular broker-dealer may be less than or in excess of customary commissions. Neither we nor the selling stockholder can presently estimate the amount of compensation that any agent will receive. We know of no existing arrangements between the selling stockholder or any other stockholder, broker, dealer, underwriter or agent relating to the sale or distribution of the shares offered by this prospectus. At the time a particular offer of shares is made, a prospectus supplement, if required, will be distributed that will set forth the names of any agents, underwriters or dealers and any compensation from the selling stockholder, and any other required information.

We know of no existing arrangements between the selling stockholder or any other stockholder, broker, dealer, underwriter or agent relating to the sale or distribution of the shares of common stock offered by this prospectus.

The selling stockholder has represented to us that at no time prior to the execution of the Purchase Agreement has the selling stockholder or its agents, representatives or affiliates engaged in or effected, in any manner whatsoever, directly or indirectly, any short sale (as such term is defined in Rule 200 of Regulation SHO of the Exchange Act)

the common stock or any hedging transaction, which establishes a net short position with respect to the common stock. The selling stockholder has agreed that, during the term of the Purchase Agreement, neither it nor its agents, representatives or affiliates will enter into or effect, directly or indirectly, any of the foregoing transactions.

We have advised the selling stockholder that it is required to comply with Regulation M promulgated under the Exchange Act. With certain exceptions, Regulation M precludes the selling stockholder, any affiliated purchasers, and any broker-dealer or other person who participates in the distribution from bidding for or purchasing, or attempting to induce any person to bid for or purchase any security which is the subject of the distribution until the entire distribution is complete. Regulation M also prohibits any bids or purchases made in order to stabilize the price of a security in connection with the distribution of that security. All of the foregoing may affect the marketability of the shares of common stock offered by this prospectus.

In order to comply with the securities laws of some states, shares of common stock sold in those jurisdictions may only be sold through registered or licensed brokers or dealers. In addition, in some states, shares of common stock may not be sold unless the shares have been registered or qualified for sale in that state or an exemption from registration or qualification is available and is complied with.

The offering made by this prospectus will terminate on the date that all shares of common stock issued or issuable under the Purchase Agreement have been sold by the selling stockholder.

The common stock is listed on the NYSE American under the symbol “BTX.”

The validity of the shares of common stock offered hereby is being passed upon for us by K&L Gates LLP, Irvine, California.

The consolidated financial statements of NTN Buzztime, Inc. (now known as Brooklyn ImmunoTherapeutics, Inc.) as of December 31, 2020 and 2019 and for each of the years in the two-year period ended December 31, 2020 have been audited by Baker Tilly US, LLP, an independent registered public accounting firm, as stated in their report thereon (which report expresses an unqualified opinion and includes an explanatory paragraph relating to NTN Buzztime, Inc.’s ability to continue as a going concern), incorporated herein by reference, and have been incorporated in this Prospectus and Registration Statement in reliance upon such report and upon the authority of such firm as experts in accounting and auditing.

The financial statements of Brooklyn ImmunoTherapeutics LLC (and its predecessor IRX Therapeutics, Inc.) for the years ended December 31, 2020 and 2019 incorporated in this prospectus by reference to our Amendment No. 1 on Form 8-K/A dated April 30, 2021 have been so incorporated in reliance on the report (which contains an explanatory paragraph relating to our ability to continue as a going concern) of Marcum LLP, an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

We file reports, proxy statements and other information with the Securities and Exchange Commission, or SEC. Information we filed with the SEC can be inspected and copied at the Public Reference Room maintained by the SEC at 100 F Street, N.E., Washington, D.C. 20549. You may also obtain copies of this information by mail from the Public Reference Room of the SEC at prescribed rates. Further information on the operation of the SEC’s Public Reference Room in Washington, D.C. can be obtained by calling the SEC at 1-800-SEC-0330. The SEC also maintains a website at www.sec.gov that contains reports, proxy and information statements and other information about issuers, such as us, who file electronically with the SEC. Copies of certain information we have filed with the SEC are also available on our website at www.brooklynitx.com, but our website is not a part of this prospectus and the information on our website is not incorporated by reference in, or otherwise part of, this prospectus.

This prospectus is part of a registration statement we filed with the SEC and does not contain all of the information contained in the registration statement. The full registration statement may be obtained from the SEC or us, as provided below. You should review the information and exhibits in the registration statement for further information about us and our consolidated subsidiary and the securities we are offering. Statements in this prospectus concerning any document that we filed as an exhibit to the registration statement or that we otherwise filed with the SEC are summaries and each statement is qualified in all respects by reference to the document to which it refers. You should review the complete document to evaluate these statements. You may inspect a copy of the registration statement at the SEC’s Public Reference Room in Washington, D.C. or through the SEC’s website, as provided above.

The SEC’s rules allow us to “incorporate by reference” information into this prospectus, which means that we can disclose important information to you by referring you to another document filed separately with the SEC. The information incorporated by reference is deemed to be part of this prospectus, and subsequent information that we file with the SEC will automatically update and supersede that information. Any statement contained in this prospectus or a previously filed document incorporated by reference will be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement contained in this prospectus or a subsequently filed document incorporated by reference modifies or replaces that statement.

This prospectus incorporates by reference the documents listed below (File No. 001-11460) and any future filings we make with the SEC under Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, or the Exchange Act, between the date of this prospectus and the termination of the offering of the shares offered by this prospectus, other than the portions of those documents not deemed to be filed:

A statement contained in a document incorporated by reference into this prospectus shall be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement contained in this prospectus, any prospectus supplement or in any other subsequently filed document that is incorporated in this prospectus modifies or replaces such statement. Any statements so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus.

You may request a copy of these filings, at no cost, by writing or calling us at Brooklyn ImmunoTherapeutics, Inc., 140 58th Street, Suite 2100, Brooklyn, New York 11220, telephone (212) 582-1199.

 

The following table sets forth the various expenses to be incurred in connection with the sale and distribution of the securities being registered hereby, all of which will be borne by us (except any underwriting discounts and commissions and expenses incurred by the selling stockholder for brokerage, accounting, tax or legal services or any other expenses incurred by the selling stockholder in disposing of the shares). All amounts shown are estimates, except for the SEC registration fee.

Section 102 of the Delaware General Corporation Law permits a corporation to eliminate the personal liability of its directors for monetary damages for a breach of fiduciary duty as a director, except where the director breached his or her duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase in violation of the Delaware General Corporation Law or obtained an improper personal benefit. Our certificate of incorporation provides that none of our directors shall be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duty as a director, notwithstanding any provision of law imposing such liability, except for liability (a) for any breach of the director’s duty of loyalty to the corporation or its stockholders, (b) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (c) under section 174 of the Delaware General Corporation Law, or (d) for any transaction from which the director derived an improper personal benefit.

Section 145 of the Delaware General Corporation Law provides that a corporation has the power to indemnify a director, officer, employee, or agent of the corporation and certain other persons serving at the request of the corporation in related capacities against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlements actually and reasonably incurred by the person in connection with an action, suit or proceeding to which he or she is or is threatened to be made a party by reason of such position, if such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, and, in any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful, except that, in the case of actions brought by or in the right of the corporation, no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or other adjudicating court determines that, despite the adjudication of liability but in view of all of the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

Our certificate of incorporation provides that we will indemnify, in the manner and to the full extent permitted by law, any person (or the estate of any person) who was or is a party, or is threatened to be made a party to, any threatened, pending or completed action, suit or proceeding, and whether civil, criminal, administrative, investigative or otherwise, by reason of the fact that such person is or was our director, officer, employee or agent, or is or was serving at our request as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise. Where required by law, the indemnification provided for shall be made only as authorized in the specific case upon a determination in the manner provided by law, that indemnification of the director, officer, employee or agent is proper under the circumstances. We may, to the full extent permitted by law, purchase and maintain insurance on behalf of any such person against any liability which may be asserted against him. To the full extent permitted by law, the indemnification provided shall include expenses (including attorneys’ fees) in any action, suit or proceeding, or in connection with any appeal therein, judgments, fines and amounts paid in settlement, and in the manner provided by law any such expenses may be paid by us in advance of the final disposition of such action,

suit or proceeding. The indemnification described herein does not limit our right to indemnify any other person for any such expense to the full extent permitted by law, nor is it exclusive of any other rights to which any person seeking indemnification from us may be entitled under any agreement, vote of stockholders or disinterested directors or otherwise, both as to action in his or her official capacity and as to action in another capacity while holding such office.

The board of directors has approved a form of indemnification agreement that has been executed by each of our directors and executive officers. In general, these agreements each provide that we will indemnify the director or executive officer to the fullest extent permitted by law for claims arising in his or her capacity as a director or executive officer of our company or in connection with their service at our request for another corporation or entity. The indemnification agreements also provide for procedures that will apply in the event that a director or executive officer makes a claim for indemnification and establish certain presumptions that are favorable to the director or executive officer.

We maintain a general liability insurance policy that covers certain liabilities of our directors and officers arising out of claims based on acts or omissions in their capacities as directors or officers.

Set forth below is information regarding shares of common stock issued by us within the past three years that were not registered under the Securities Act of 1933. Included is the consideration, if any, we received for such shares and information relating to the section of the Securities Act of 1933, or the rule of the Securities and Exchange Commission, under which exemption from registration was claimed.

On April 26, 2021, we entered into a purchase agreement with Lincoln Park Capital Fund, LLC pursuant to which we have the right to sell to Lincoln Park Capital Fund, LLC up to $20,000,000 in shares of common stock, subject to certain limitations, from time to time on or before      , 2024. On April 26, 2021, we issued 56,041 shares of common stock to Lincoln Park Capital Fund, LLC as consideration for its commitment to purchase shares of common stock under the Purchase Agreement.

No underwriters were involved in the foregoing issuances of securities. The securities described in this section (a) of Item 15 were issued to investors in reliance upon the exemption from the registration requirements of the Securities Act of 1933, as set forth in Section 4(a)(2) under the Securities Act of 1933 and/or Regulation D promulgated thereunder relative to transactions by an issuer not involving any public offering, to the extent an exemption from such registration was required. The recipients of securities in the transactions described above represented that they were accredited investors and were acquiring the securities for their own account for investment purposes only and not with a view to, or for sale in connection with, any distribution thereof and that they could bear the risks of the investment and could hold the securities for an indefinite period of time and appropriate legends were affixed to the instruments representing such securities issued in such transactions.

The exhibits to the registration statement are listed in the Exhibit Index attached hereto and incorporated by reference herein.

No financial statement schedules are provided because the information called for is not required or is shown either in the financial statements or notes.

provided, however, that paragraphs (1)(i), (1)(ii) and (1)(iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that are incorporated by reference in this Registration Statement.

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York on April 29, 2021.

Each person whose signature appears below hereby constitutes and appoints Howard J. Federoff and Ronald Guido, and each of them, as his or her true and lawful attorney-in-fact and agent with full power of substitution, for him or her in any and all capacities, to sign any and all amendments to this registration statement (including post-effective amendments or any abbreviated registration statement), and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.