Company: INDP
Filing Date: 2025-02-05
Form Type: S-3
Source: 0001493152-25-005016
Chunk: 9

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-02-05
Form: S-3
Chunk 9
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 before deducting placement agent and other offering expenses in the amount of approximately $0.345 million. In connection with the November 2024 financing, we issued to the placement agent and its designees placement agent warrants to purchase an aggregate of 124,212 shares of common stock at an exercise price per share equal to $1.3125. The placement agent warrants are exercisable six months from the date of issuance and expire on the fifth anniversary of the issue date.

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January 2025 Private Placement

On January 16, 2024, we completed a private placement, pursuant to which we sold and issued to certain investors 2,109,383 unregistered shares of our common stock and unregistered warrants to purchase 2,109,383 shares of our common stock. The warrants are immediately exercisable at an exercise price of $0.94 per share and expire five years from the date of issuance. In connection with the January 2025 financing, we issued to the placement agent and its designees placement agent warrants to purchase an aggregate of 147,656 shares of common stock at an exercise price per share equal to $1.175. The placement agent warrants are exercisable six months from the date of issuance and expire on the fifth anniversary of the issue date.

Minimum Bid Price Deficiency

On January 31, 2025, we were notified by the Nasdaq Listing Qualifications that we are not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. We have until July 30, 2025, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the bid price of our common stock must have a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days. In the event we do not regain compliance by July 30, 2025, we may then be eligible for additional 180 days if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of our intention to cure the deficiency during the second compliance period. If we do not qualify for the second compliance period or fails to regain compliance during the second compliance period, then Nasdaq will notify us of its determination to delist our common stock, at which point we will have