Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 346

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1B
Chunk 346
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 period. At the Company’s option, the shares of common
    stock would be purchased by Yorkville from time to time at a price equal to 97% of the lowest of the three daily VWAPs during a three
    consecutive trading day period commencing on the date that the Company, subject to certain limitations, delivers a notice to Yorkville
    that the Company is committing Yorkville to purchase such shares of common stock. The Company may also specify a certain minimum
    acceptable price per share in each advance. The Company will control the timing and amount of sales of the Company’s shares
    to Yorkville. As consideration for Yorkville’s irrevocable commitment to purchase shares of the Company’s common stock
    upon the terms of and subject to restrictions and satisfaction of the conditions set forth in the SEPA, upon execution of the SEPA,
    the Company issued to Yorkville 305,960 shares of common stock, as commitment shares. Under
    the applicable Nasdaq Rules and pursuant to the SEPA, in no event may the Company issue or sell to Yorkville more than 2,823,244
    shares of common stock (the “Exchange Cap”), which is 19.99% of the shares of common stock outstanding immediately prior
    to the execution of the SEPA, unless (i) the Company obtains stockholder approval to issue shares of common stock in excess of the
    Exchange Cap, or (ii) the average price of all applicable sales of common stock under the SEPA equals or exceeds $0.81722 per share
    (which represents the lower of (i) the Nasdaq Official Closing Price (as reflected on Nasdaq.com) on the trading day immediately
    preceding the effective date or (ii) the average Nasdaq Official Closing Price of the common stock (as reflected on Nasdaq.com) for
    the five trading days immediately preceding the effective date). On February 12, 2025, the Company filed a Form S-1 covering
    the resale of up to 10,000,000 shares of common stock comprised of (i) 305,960 commitment shares, and (ii) up to 9,694,040 shares
    of common stock reserved for issuance and sale to Yorkville under the SEPA. The Form S-1 was declared effective on February 13, 2025.

NOTE
7: COMMITMENTS AND CONTINGENCIES

Litigation

From
time to time, the Company