Company: NDRA
Filing Date: 2025-11-26
Form Type: 424B4
Source: 0001213900-25-115097
Chunk: 7

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-26
Form: 424B4
Chunk 7
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which may include debt repayment, if appropriate at such time),
for acquisitions, or for strategies that generate tax benefits in accordance with applicable law, (ii) enter into additional capital
raising transactions that are collateralized by our cryptocurrency holdings, and (iii) pursue strategies to create income streams
or otherwise generate funds using our cryptocurrency holdings (for example, generating premium income by selling call options related
to cryptocurrencies).

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Digital Asset Advisory Board

In connection with the Company’s
DAT strategy, the Company formed a Digital Asset Advisory Board to assist it in developing and managing its cryptocurrency strategy.
In connection with the Private Placement (as defined below), the Company appointed Jeff Dorman, Chief Investment Officer of Arca Investment
Management, LLC, a limited liability company (“Arca”), to its Digital Asset Advisory Board. The Digital Asset Advisory
Board currently consists of Mr. Dorman and Rayne Steinberg.

Asset Manager

In connection with the Company’s
DAT strategy, the Company entered into an Amended and Restated Investment Management Agreement (the “Investment Management Agreement”)
with Arca, pursuant to which the Company engaged Arca to provide active asset management services in accordance with the investment strategy
and investment objectives, policies, guidelines and restrictions as agreed to from time to time by the Company and Arca.

Arca will have discretion
to manage funds allocated to the Company’s DAT strategy, focusing on decentralized finance, including, without limitation, by purchasing
one to five decentralized finance digital assets, beginning with HYPE, directly or indirectly through the use of derivative instruments.

The Investment Management
Agreement may be terminated by either the Company or Arca upon not more than sixty (60) days’ but not less than thirty (30) days’
written notice to the other party.

Custody

The Company plans to hold
substantially all of its DAT assets in custody accounts at Anchorage Digital Bank, N.A. (“Anchorage”), a U.S.-based, institutional-grade
custodian. As the Company develops its DAT strategy, it may expand its holdings to multiple similar custodians. In connection with its
DAT strategy, Company entered into a Master Custody Service Agreement with Anchorage (the “Custody Agreement”), pursuant
to which it will act as custodian of the Company’s digital assets it deposits with Anchorage. Services provided by Anchorage will
include storage of digital assets and related settlement and support services. Under the Custody Agreement, Anch