Company: PSTV
Filing Date: 2025-08-12
Form Type: S-1
Source: 0001193125-25-178940
Chunk: 10

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-08-12
Form: S-1
Chunk 10
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 Purchase Agreement, we are also required to pay the Additional Commitment Fee,
which we may elect to pay in cash, Additional Commitment Shares or any combination thereof, provided that we can only issue Additional Commitment Shares if we have registered those shares for resale under the Securities Act pursuant to a separate
resale registration statement.

Depending on the prevailing market price of our common stock, we may not be able to sell shares to Lincoln
Park for the maximum $50.0 million over the term of the Purchase Agreement, of which Lincoln Park has already purchased approximately $2.8 million. On August 7, 2025, we received the stockholder approval required before issuing more than
the Exchange Cap limit of 10,194,593 shares (including the Initial Commitment Shares and Additional Commitment Shares, if applicable), which represents 19.99% of our outstanding shares immediately prior to the execution of the Purchase Agreement.

In addition, Lincoln Park will not be required to purchase any shares of our common stock if such sale would result in Lincoln
Park’s beneficial ownership exceeding 4.99% of the then outstanding shares of our common stock. Our inability to access a portion or the full amount available under the Purchase Agreement, in the absence of any other financing sources, could
have a material adverse effect on our business.

The extent we rely on Lincoln Park as a source of funding will depend on a number of
factors, including the prevailing market price of our common stock and the extent to which we are able to secure working capital from other sources. If obtaining sufficient funding from Lincoln Park were to prove unavailable or prohibitively
dilutive, we will need to secure another source of funding in order to satisfy our working capital needs. Even if we sell the remaining $47.2 million of shares of our common stock remaining available for sale under the Purchase Agreement to Lincoln
Park as of August 8, 2025, we may still need additional capital to finance our future production plans and working capital needs, and we may have to raise funds through the issuance of equity or debt securities. Assuming a purchase price of $0.80
(which represents the closing price of our common stock on August 8, 2025), the purchase by Lincoln Park for cash of the entire 31,387,097 shares being registered hereunder that are available for purchase pursuant to the Purchase Agreement would
result in gross proceeds to us of only approximately $25.1 million, which would result in a remaining $22.1 million