Company: INDP
Filing Date: 2025-06-23
Form Type: DEF 14A
Source: 0001641172-25-016071
Chunk: 15

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-06-23
Form: DEF 14A
Chunk 15
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, and (ii) shares of common stock issuable upon exercise of one or more Common Warrants issuable in the
Private Placement to the Related Party.

Nasdaq Stockholder Approval Requirement; Reasons for the Related Party Proposal

Nasdaq Rule 5635(c) requires stockholder approval
in connection with certain non-public offerings involving the sale, issuance or potential issuance of equity compensation. For this purpose,
“equity compensation” includes common stock (and securities convertible into or exercisable for common stock) issued to a
company’s officers, directors, employees or consultants at a discount to the market value of such common stock. “Market value”
means the consolidated closing bid price (as reflected on Nasdaq) immediately preceding the time that the company enters into a binding
agreement with such officer, director, employee or consultant to issue the equity compensation.

The shares of common stock issued or issuable
underlying the Notes and the shares of common stock issuable upon exercise of the Common Warrants may be considered “equity compensation”
under Nasdaq Rule 5635(c). Mr. Jeffrey Meckler, our Chief Executive Officer and director, is participating in the Private Placement.
Since the Conversion Price of the Notes and the exercise price of the Common Warrants may be less than the market value our common stock
immediately preceding the date of entering into the Purchase Agreement with Mr. Meckler, Mr. Meckler has agreed with the Company that
the Notes may not be converted and the Common Warrant may not be exercised into common stock until shareholder approval is obtained.

Therefore, we are asking for your approval to
issue shares of common stock underlying (i) the Notes issued and issuable to Mr. Meckler and (ii) the Common Warrants issuable to Mr.
Meckler.

We are not seeking the approval of our stockholders
to authorize our entry into the Private Placement, but rather to approve the conversion of the Notes and exercise of the Common Warrants
purchased by Mr. Meckler into shares of our common stock. As such, if the stockholders do not approval this proposal, any such Notes
may not be converted into the Conversion Shares and any Common Warrant, if issued, will not convert into common stock.

If our stockholders approve this proposal, then
we may issue to Mr. Meckler shares of our common stock issuable upon conversion of any Note and exercise of any Common Warrant purchased
now or in the future by Mr.