Company: TELO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021496
Chunk: 28

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 28
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 per share (after giving effect to our 1-for-2.05 reverse stock split that occurred on December 11, 2023),
and through our IPO that occurred in February 2024. We intend to finance our clinical development programs and working capital needs
from existing cash, and our effective shelf registration statement.

On
September 24, 2024 the Company entered into an unsecured Promissory Note and Loan Agreement (“the Starwood Note”) with the
Starwood Trust, a separate related party trust established by the Company’s founder for the benefit of the founder’s family.
Under the Starwood Note, the Company has the right to borrow up to an aggregate of $5 million from the Starwood Trust at any time up
until the second anniversary of the note. The Company’s right to borrow funds under the Starwood Note is subject to the absence
of a material adverse change in its assets, operations, or prospects. The Starwood Note, together with accrued interest, is to become
due and payable on the second anniversary of the issuance of the note, provides for prepayment at any time without penalty, and accrues
simple interest at a rate equal 7% per annum. As of September 30, 2025, the Company has not borrowed any amounts under the Starwood Note.

On
May 19, 2025, Telomir Pharmaceuticals, Inc. the Company entered into an agreement to raise $3 million in equity financing through a direct
investment by The Bayshore Trust, an entity affiliated with the Company’s largest shareholder. The transaction was structured as
a straight restricted common stock deal with no warrants. The Company issued 333,333 restricted shares of its common stock, no par value
(the “Common Stock”) at a purchase price of $3.00 per share, representing an 18% premium to the closing share price of the
Common Stock of $2.54 on the date of execution (the “Bayshore Financing”). The Company received the initial payment of $1
million for the Bayshore Financing on May 20, 2025. In July 2025, an additional $2 million was received, for the issuance of 666,666
shares.

On
February 14, 2025, 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 under which the