Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 49

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 49
---
.72.

    c.
    On
    February 12, 2025, the Company entered into the SEPA with Yorkville, which provides that, upon the terms and
    subject to the restrictions and satisfaction of the conditions in the SEPA, Yorkville is committed to purchase up to an aggregate of
    $20.0 million
    of the Company’s shares of common stock over a 36-month period. At the Company’s option, the shares of common stock
    would be purchased by Yorkville from time to time at a price equal to 97% of the lowest of the three daily VWAPs during a three
    consecutive trading day period commencing on the date that the Company, subject to certain limitations, delivers a notice to
    Yorkville that the Company is committing Yorkville to purchase such shares of common stock. The Company may also specify a certain
    minimum acceptable price per share in each advance. The Company will control the timing and amount of sales of the Company’s
    shares to Yorkville. As consideration for Yorkville’s irrevocable commitment to purchase shares of the Company’s common
    stock upon the terms of and subject to restrictions and satisfaction of the conditions set forth in the SEPA, upon execution of the
    SEPA, the Company issued to Yorkville 10,927 shares
    of common stock as commitment shares. Under the applicable Nasdaq Rules and pursuant to the SEPA, in no event may the Company issue
    or sell to Yorkville more than 100,830 shares
    of common stock (the “Exchange Cap”), which is 19.99%
    of the shares of common stock outstanding immediately prior to the execution of the SEPA, unless (i) the Company obtains stockholder
    approval to issue shares of common stock in excess of the Exchange Cap, or (ii) the average price of all applicable sales of common
    stock under the SEPA equals or exceeds $22.882 per
    share (which represents the lower of (i) the Nasdaq Official Closing Price (as reflected on Nasdaq.com) on the trading day
    immediately preceding the effective date or (ii) the average Nasdaq Official Closing Price of the common stock (as reflected on
    Nasdaq.com) for the five trading days immediately preceding the effective date). On February 12, 2025, the Company filed a Form S-1
    covering the resale of up to 357,142 shares