Company: NDRA
Filing Date: 2025-07-25
Form Type: S-1/A
Source: 0001654954-25-008477
Chunk: 42

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-07-25
Form: S-1/A
Chunk 42
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, there is a risk that no suitable counterparties will be willing to enter into, or continue to enter into, option contracts with the Company and, as a result, the Company may not be able to achieve its investment objectives.

We intend to pursue an income generating strategy whereby we sell call options and do not intend to enter into put option contracts or to purchase call options. To the extent that we expand our option trading strategy, we would be subject to additional potential counterparty risks. If the counterparty or its affiliate to a transaction involving put options or the Company buying call options becomes insolvent, bankrupt or defaults on its payment obligations to the Company, the value of an investment held by the Company may decline. Additionally, if any collateral posted by the counterparty for the benefit of the Company is insufficient or there are delays in the Company’s ability to access such collateral, the Company may not be able to achieve its investment objectives.

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<div align='center'>USE OF PROCEEDS</div>

We estimate that the net proceeds to us from the issuance and the sale of the securities in this offering will be approximately $95.6 million (or approximately $110.3 million if the underwriter exercises in full its over-allotment option), in each case after deducting the underwriting discount and estimated offering expenses payable by us, based on the assumed public offering price of $6.57 per share, the last reported sale price of our common stock on the Nasdaq Capital Market on July 24, 2025.

We intend to use an amount equal to approximately 5.0% of the net proceeds of the offering, up to $5.0 million and subject to a floor of $3.0 million, for research and product development, to fund clinical trials and for working capital and general corporate purposes. We have not yet determined the amount of these net proceeds to be used specifically for any particular purpose or the timing of these expenditures. Accordingly, our management will have significant discretion and flexibility in applying these net proceeds from the sale of these securities, and investors will be relying on our judgment regarding the application of the net proceeds from this offering.

We intend to use the remaining portion of the net proceeds to purchase bitcoin to establish the Company’s cryptocurrency treasury operations. Assuming net proceeds of $95.6 million, we would invest $90.8 million in bitcoin. Assuming a price of bitcoin of $119,065.14, which was the spot price of bitcoin as of 4:00 PM ET on July