Company: SHPH
Filing Date: 2025-01-15
Form Type: S-1
Source: 0001493152-25-002253
Chunk: 66

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-01-15
Form: S-1
Chunk 66
---
 customary affirmative and negative covenants regarding the incurrence of certain indebtedness, the existence of liens, the repayment of indebtedness, the payment of cash in respect of dividends, distributions or redemptions, and the transfer of assets, among other matters.

Warrants

In addition to the Convertible Notes, we issued Warrants exercisable for five (5) years for the purchase of an aggregate of up to 329,461 shares of common stock (the “Warrant Shares”), at a weighted-average exercise price of $1.42 per share (representing 125% of the per share price of the Company’s common stock at the close of market the day immediately preceding closing). The number of Warrant shares issued are equal to 45% of the number of shares of common stock the Convertible Notes may convert into as of the date of closing. The number of Warrant Shares and exercise price are each subject to adjustment as provided under the terms of the Warrant. The Company is required to register the Warrant Shares within six months of closing. If at the time of exercise of the Warrants there is no effective registration statement registering, or no current prospectus available for, the issuance of the Warrant Shares to the Lender, and the registration statement is not subject to SEC review and the Company has otherwise affirmatively failed to maintain such registration statement’s effectiveness, then the Warrants may also be exercised, in whole or in part, by means of a “cashless exercise.” The Warrants may not be exercised if, after giving effect to the exercise the Lender, would beneficially own in excess of 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of the Warrant Shares. At the Investor’s option, the ownership limitation blocker may be raised or lowered to any other percentage not in excess of 9.99%, as applicable, except that any raise will only be effective upon 61-days’ prior notice to the Company.

Additional Information

The foregoing is only a summary of the material terms of the Purchase Agreement, the Convertible Notes and the Warrants (collectively, the “Transaction Documents”), and does not purport to be a complete description of the rights and obligations of the parties thereunder.

The summary of the Transaction Documents is qualified in its entirety by reference to the forms of such agreements, which are incorporated as exhibits to the Registration Statement of which this prospectus forms a part and are incorporated herein by reference.

The foregoing summary and the