Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 365

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 365
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 the anti-dilution
provisions of the stock.

Each share of Preferred Stock will automatically be converted into one share of common stock at the then effective conversion
rate in the event of either: (i) the closing of a public offering at a price of at least $3.00 per share (as adjusted for stock dividends, splits or similar transactions) resulting in gross proceeds to the Company of at least
$75.0 million; or (ii) an event approved by the Requisite Series C Holders.

As of December 31, 2024 and 2023, none of the outstanding
shares of Preferred Stock had been converted into common stock.

Reissuance: Shares of any Preferred Stock that are redeemed or converted will be
retired or canceled and may not be reissued by the Company.

Common Stock

All issued shares of common stock are entitled to vote on a one share/one vote basis.

During 2024, the Company entered into an agreement for financial advisory services. As compensation for the services, the Company issued 40,000 shares of
common stock. The Company recorded stock-based compensation expense of $0.1 million included in general and administrative expense on the accompanying statement of operations. The fair value of the issued shares was determined based on the fair
value of the Company’s common stock as of the date of the agreement.

F-25

LB Pharmaceuticals Inc

Notes to Financial Statements

Warrants

In 2018, in connection with the Company’s Series A Offering in 2018 (the “Series A Offering”), the Company issued warrants to purchase
1.8 million shares of the Company’s common stock at an exercise price of $2.30 per share. The warrants expire ten years after issuance. The warrants were issued in two tranches of which 0.9 million were fully exercisable at issuance
(“Class A Warrants”) and the remaining 0.9 million were exercisable as of May 21, 2022 (“Class B Warrants”). The Class A Warrants and Class B Warrants are collectively referred to as the “A
and B Warrants”.

In May 2022, in connection with the Series B Offering, the Company issued the Series B-1
Warrants to purchase 80,000 shares of the Company’s common stock that were immediately exercisable at an exercise price of $3.75 per share. The warrants expire five years after issuance.

The Series B Offering included a Rights Offer Phase (“Rights