Company: SHPH
Filing Date: 2025-04-21
Form Type: DEFR14A
Source: 0001641172-25-005474
Chunk: 45

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-04-21
Form: DEFR14A
Chunk 45
---
 each Convertible Note, all interest accrued thereon and all other amounts owing hereunder shall be due and payable immediately; provided that if there shall be a plan of liquidation or the Company’s charter expires or is otherwise revoked, the entire unpaid balance of principal with interest accrued thereon and all other sums due under each Convertible Note shall be immediately due and payable without any action by Lender require us to redeem in cash any or all of the Convertible Note.

Covenants

We will be subject to certain 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.

Vote