Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 589

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 2
Chunk 589
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 requirements, general business conditions and other pertinent facts.

Preferred
dividends

As
of the date of this Annual Report, we have not issued any preferred stock nor paid any preferred dividends.

Recent
Sales of Unregistered Securities

During
the past three years, we effected the following transactions in reliance upon exemptions from registration under the Securities Act:

On
February 8, 2022 and March 11, 2022, the Company sold to certain accredited investors $365,000 and $225,000, respectively, in 6% convertible
notes (the “Notes”), which bore 6% interest, were repayable on December 31, 2024, and converted automatically into shares
of common stock or, in the event that units were sold in the offering, units, at a conversion price of $32.00 per unit upon closing of
our IPO. Such notes were sold to accredited investors pursuant to an exemption from registration under Rule 506(b) of the Securities
Act. Boustead Securities LLC acted as placement agent and received compensation of (i) $36,500 in cash and warrants to purchase 10% of
the total number of shares issuable upon conversion of the Convertible Notes, exercisable at the conversion price of the Convertible
Notes for the February offering and (ii) $22,750 in cash and warrants to purchase 10% of the total number of shares issuable upon conversion
of the Convertible Notes, exercisable at the conversion price of the Convertible Notes for the March offering.

55

Effective
March 30, 2022, the Company issued a total of 839 shares (105 shares on a post-reverse split basis) of common stock (the
“Issuance”) to some 23 existing shareholders in satisfaction of certain interest that had accrued as the result of an
inaccurate conversion of convertible notes in our 2018 share exchange. The Issuance satisfied in full all interest owed or otherwise
accruing as the result of the inaccurate conversion. Such issuance was made in accordance with Rule 506(b) of the Securities
Act.

On
August 1, 2022, in conjunction with entering into three loan agreements for a total of $125,000, which were repayable following consummation
of our IPO, we issued warrants to purchase a total of 6,250 shares of our common stock, exercisable at $20.00 per share. Such warrants
were sold to three