Company: PSTV
Filing Date: 2025-07-11
Form Type: PRE 14A
Source: 0001140361-25-025650
Chunk: 63

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-07-11
Form: PRE 14A
Chunk 63
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 of Common Stock equal to the Exchange Cap and at all times thereafter, the average price per share of Common Stock for all shares of Common Stock sold by the Company to Lincoln Park under the Lincoln Park Purchase Agreement equals or exceeds $0.3576 per share (representing the sum of (i) $0.3086, representing the lower of (A) the official closing price of the Common Stock on Nasdaq on the trading day immediately preceding the date of the Lincoln Park Purchase Agreement and (B) the average official closing price of the Common Stock on Nasdaq for the five consecutive trading days ending on the trading day immediately preceding the date of the Lincoln Park Purchase Agreement, and (ii) $0.049, representing the adjustment amount under applicable Nasdaq rules to take into account the issuance of the Commitment Shares) (the “LP Minimum Price”), such that the Exchange Cap limitation would no longer apply to issuances and sales of Common Stock by the Company to Lincoln Park under the Lincoln Park Purchase Agreement under the Nasdaq 20% Rule. In any event, the Lincoln Park Purchase Agreement specifically provides that we may not issue or sell any shares of our Common Stock under the Lincoln Park Purchase Agreement if such issuance or sale would breach any applicable Nasdaq rules. Based on the closing sale price of our Common Stock as reported on Nasdaq on [•], 2025, to fully utilize the $50 million amount available to us under the Lincoln Park Purchase Agreement, we would need to issue [•] shares of Common Stock to Lincoln Park, which would be in excess of the Nasdaq 20% Rule. Accordingly, in order to be able to sell to Lincoln Park the full amount available under the Lincoln Park Purchase Agreement at a price less than the LP Minimum Price, we are seeking stockholder approval to issue greater than 20% of our outstanding shares as of the date we entered into the agreement with Lincoln Park, which issuance would be effected under the Lincoln Park Purchase Agreement in accordance with its terms. Effect of Failure to Obtain Stockholder Approval If the stockholders do not approve this proposal, then we will be unable to issue shares of Common Stock to Lincoln Park pursuant to the Lincoln Park Purchase Agreement in excess of the Exchange Cap if sold at a price less than the LP Minimum Price. Effect of Approval If we obtain stockholder approval as requested in this proposal, then we would no longer be subject to the Nasdaq 20% Rule restriction with respect to the issuance and sale of Common Stock to Lincoln Park under the Lincoln Park Purchase Agreement