Company: PSTV
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006916
Chunk: 26

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-08-04
Form: DRS
Chunk 26
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 this prospectus for more information.

On June 17, 2025, we entered into a letter agreement (the “Side
Letter”) with certain holders of our warrants issued on March 4, 2025. Pursuant to the Side Letter, among other things, such holders agreed to return the shares and pre-funded warrants issued to them
on March 4, 2025 and we agreed to repay the holders holding such securities 115% of the value of such securities, using 90% of the proceeds from any capital raised by us subsequent to July 1, 2025 (the “Make-Whole Repayment”).
The total amount of the repayment as of the date of the Side Letter was approximately $17.3 million.

On July 11, 2025, the
Company and certain investors from the March 4, 2025 securities purchase agreement (the “March 2025 Private Placement Purchasers”) party to the Side Letter entered into that certain letter of support (the “Support Letters”)
to modify certain portions of the Side Letter as between the Company and each of such March 2025 Private Placement Purchasers. In the event that the Company reasonably believes that, within the 30 days (the “Modification Period”) prior to
the end of any fiscal quarter, the Company will have stockholders’ equity in an amount below $3,000,000 as of the end of such fiscal quarter (the “Potential Equity Deficiency”), the Subsequent Financing Percentage (as defined in the
Side Letter) shall be modified from 90% to 50% for any Subsequent Financing (as defined in the Side Letter) that occurs during the Modification Period pursuant to the Purchase Agreement. Upon the end of the Modification Period, the Subsequent
Financing Percentage shall be reverted to 90%, and such percentage shall apply to all Subsequent Financings, including all Subsequent Financings pursuant to the Purchase Agreement. In the event the Company desires to trigger the modification of the
Subsequent Financing Percentage, the Company agrees to supply the purchaser who executed a Support Letter with a pro forma balance sheet to evidence its reasonable belief of the Potential Equity Deficiency approximately 30 days prior to each end of
fiscal quarter once the books for prior months are closed. The Company also agreed to make a cash payment of $300,000 (or such lesser amount if a lesser amount is required for such purchaser to have received its Maximum Amount (as defined in the
Side Letter) in