Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 215

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 215
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 is designated.

Reverse
stock-split

Effective
June 28, 2023, the Company completed a 1-for-5 reverse stock split of its outstanding common stock upon the filing of the Company’s
Third Amended and Restated Articles of Incorporation with the Florida Secretary of State. No fractional shares were issued in connection
with the reverse stock split, and all such fractional shares resulting from the reverse stock split were rounded up to the nearest whole
number. The shares issuable upon the exercise of our outstanding options and warrants, and the exercise prices of such options and warrants,
have been adjusted to reflect the reverse stock split. All share and per share information in the accompanying financial statements have
been retrospectively adjusted to reflects the reverse stock split.

Common
Stock

At
IPO in August 2023, 1,275,000 shares of the Company’s common stock were issued at a price of $7.00 per share which resulted in
gross proceeds of $8.9 million and net proceeds of $7.7 million to the Company after the underwriter discount but before other IPO
related expenses.

Additionally,
the Company issued its former investor relations firm $0.25 million worth of restricted common stock upon closing of the IPO, which resulted
in issuance of 35,715 shares of stock.

On
August 12, 2024, the Company filed a shelf registration statement with the SEC to facilitate the issuance of our common stock and entered
into an At The Market Offering Agreement (the “ATM Agreement”) with Rodman & Renshaw LLC (the “Manager”),
under which the Company may offer and sell shares of its Common Stock, with an aggregate offering amount sold of up to $19,268,571. On
September 24, 2024, the Company filed a prospectus supplement to amend the shelf registration statement to update the maximum amount
eligible to be sold under the ATM Agreement to $75 million. As of December 31, 2024, under the ATM Agreement, the Company has sold 1,779,967 shares
of Common Stock in 2024 at an average price per share of $1.65 and received net proceeds of approximately $3.6 million, after
deducting commissions and other fees of $0.13 million.

    F-16

MIRA
                                            PHARMACEUTICALS, INC.

NOTES
TO THE FINANCIAL STATEMENTS

DECEMBER