Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 530

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1C
Chunk 530
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 recorded as a derivative liability.

The
Company also incurred $0.8 million in legal and other fees related to the Public Offering. The legal and other fees were allocated to
the Common Stock, Common Warrants, and Pre-Funded Warrants in proportion to the allocation of the proceeds. $0.7 million of legal and
other fees are recorded as costs of the Public Offering and reduced the amount recorded to additional paid in capital, while less than
$0.1 million of legal and other fees are recorded as expense.

Warrants

In
connection with the January 2023 Alto Convertible Note, Boustead was granted warrants to purchase 8,909 shares of common stock, at an
exercise price of $18.80 per share (Note 5). In addition, Alto was granted warrants to purchase 127,260 shares of common stock, at an
exercise price of $0.48 per share, as adjusted (Note 5, 7).

In
connection with the Convertible Bridge Notes issued on October 14, 2024, the lenders were granted warrants to purchase 240,917 shares
of common stock, at an exercise price of $1.40 per share. In addition, in connection with the Convertible Bridge Notes issued on October
21, 2024, the lenders were granted warrants to purchase 88,544 shares of common stock, at an exercise price of $1.49 per share.

In
connection with the October 2024 Equity Financing, the Company issued pre-funded warrants to purchase
up to 2,555,246
shares of common
stock, at an exercise price of $0.001
per share, and warrants
to purchase up to 2,950,820
shares of common stock,
at an exercise price of $1.40
per share. The table below excludes the pre-funded
warrants, of which 729,246
were exercised during the year ended December
31, 2024. As of December 31, 2024, 1,826,000
pre-funded warrants remained unexercised and
outstanding and have no expiration date.

    F-22

A
summary of activity regarding warrants to purchase common stock (excluding pre-funded warrants) for the year ended December 31, 2024
were as follows:

 Schedule of Warrants Activity

    Number of  
    Weighted Average  
    Average 

    warrants  
    Exercise Price