Company: JUNS
Filing Date: 2025-11-26
Form Type: S-1
Source: 0001493152-25-025204
Chunk: 253

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-11-26
Form: S-1
Chunk 253
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 interest expense over term of Notes I, each with a maturity date of July 31, 2022. On August 6, 2022, the Notes I were amended to extend the maturity date to January 31, 2023, and increase the interest rate to 5%. All other terms remain the same as previously stated in Notes I. The impact of the amendment is prospective and increased accrued interest by $ 23,072and is included in accrued interest on the accompanying balance sheet. On February 2, 2023, the Notes I were amended to extend the maturity date to December 31, 2023. During January 31, 2024, the Company and all Note I holders agreed to amend and extend the maturity date of their notes to December 31, 2024. The holders waived any default under the original notes prior to the amendment date. With the amendments the applicable interest rate to Notes I increased to 10% effective from January 1, 2024. The amendments were accounted for as a modification and not an extinguishment of debt, therefore there was no gain recorded in the statement of operations.

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JUPITER NEUROSCIENCES, INC.

NOTES TO FINANCIAL STATEMENTS

December 31, 2024 and 2023

Note 5 – Convertible Debt and Derivative Liability, continued

Convertible Debt I

Upon the closing of the IPO on December 4, 2024, the outstanding principal and all unpaid accrued interest, totalling $ 636,852, of the Notes I converted into an aggregate of 227,447share of common stock of the Company at $ 2.80, which is 70% of the offering price of $ 4.00.

Senior Secured Note – Formerly Known as the Convertible Debt II

The Note -On April 11, 2022, the Company entered into a securities purchase agreement with an accredited investor (the “Holder”). Pursuant to the terms of the securities purchase agreement, the Company received aggregate gross proceeds of $ 1,000,000, less loan origination costs of $ 22,667, and issued a (i) 10% original issue discount senior secured convertible note (the “Note II”) in the principal amount of $ 1,111,111and (ii) 514,403shares of common stock.

The Company will have the right at any time to redeem in cash all or a portion of Note II