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

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-08-12
Form: S-1
Chunk 25
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 Side Letter was approximately $17.3 million.

On July 11, 2025, the Company and certain
investors from the March 4, 2025 securities purchase agreement (the “March 2025 Private Placement Purchasers”) party to the Side Letter entered into that certain letter of support (the “Support Letters”) to modify certain
portions of the Side Letter as between the Company and each of such March 2025 Private Placement Purchasers. In the event that the Company reasonably believes that, within the 30 days (the “Modification Period”) prior to the end of any
fiscal quarter, the Company will have stockholders’ equity in an amount below $3,000,000 as of the end of such fiscal quarter (the “Potential Equity Deficiency”), the Subsequent Financing Percentage (as defined in the Side Letter)
shall be modified from 90% to 50% for any Subsequent Financing (as defined in the Side Letter) that occurs during the Modification Period pursuant to the Purchase Agreement. Upon the end of the Modification Period, the Subsequent Financing
Percentage shall be reverted to 90%, and such percentage shall apply to all Subsequent Financings, including all Subsequent Financings pursuant to the Purchase Agreement. In the event the Company desires to trigger the modification of the Subsequent
Financing Percentage, the Company agrees to supply the purchaser who executed a Support Letter with a pro forma balance sheet to evidence its reasonable belief of the Potential Equity Deficiency approximately 30 days prior to each end of fiscal
quarter once the books for prior months are closed. The Company also agreed to make a cash payment of $300,000 (or such lesser amount if a lesser amount is required for such purchaser to have received its Maximum Amount (as defined in the Side
Letter) in cash after giving effect to such payment) to such purchaser. Such payment counts as cash received by the purchaser towards its Maximum Amount. Each Support Letter also grants the purchaser party to the letter a participation right in
certain future financings of the Company for a period of 12 months.

We expect to use any proceeds that we receive under the Purchase
Agreement for working capital and general corporate purposes and, if required, Make-Whole Repayment. The amounts and timing of these expenditures will depend on a number of factors, such as the timing and progress of our research and development
efforts, regulatory actions affecting our product candidates and our business, technological advances and the competitive environment for our product candidates.