Company: LBRX
Filing Date: 2025-07-23
Form Type: DRS/A
Source: 0000950123-25-006557
Chunk: 356

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-07-23
Form: DRS/A
Chunk 356
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 an amount equal to one-thirdof their current Series B preferred stock. See Warrants section below for additional information. The Company incurred issuance costs of $2.0 million associated with the Series C preferred stock and New Series B Warrants. Upon the closing of the Series C Offering, the 2020 Notes and 2022 Notes automatically converted to 23.8 million shares of Series C preferred stock at a price of $1.50 per share. See Note 11 Notesfor additional information. As of December 31, 2024, the holders of the Preferred Stock have the following rights and preferences: Voting: The holders of the Preferred Stock shall have full voting rights and powers and shall vote together with all other classes and series of stock of the Company. Each holder of Preferred Stock shall be entitled to the number of votes equal to the number of shares of common stock into which the preferred stock could be converted on the record date. F-23

LB Pharmaceuticals Inc

Notes to Financial Statements

Upon the closing of the Series C Offering, the Company’s Board of Directors shall consist of no more
than seven members, including: one director shall be designated by each of the Series C New Investors; one director shall be designated by the existing stockholders of the Company, one director shall be the CEO of the Company and one independent
director to be mutually agreed upon.

Series A and Series B Protective Provisions:At any time when shares of Series A or Series B
preferred stock are outstanding, the Company will not, without the consent of a majority of the outstanding shares of Series A and Series B preferred stock (voting together as a single class): (i) take any action that requires the separate approval
of the Series A or Series B preferred stockholders; (ii) amend the Fourth Amended Certificate to adversely affect the rights of the Series A or Series B stockholders differently from the Preferred Stock; or (iii) increase or decrease the
authorized number of Series A or Series B preferred stock.

Series C Protective Provisions: Additionally, at any time that at least 50% of
Series C preferred stock is outstanding, the Company will not without the consent of at least 60% of the Series C preferred stockholders (“Requisite Series C Holders”): (i) liquidate, dissolve or wind up the Company; (ii) amend,
alter, repeal or waive any provisions of the Fourth Amended and Restated Certificate of Incorporation provided that any such amendment or waiver that is adverse to any