Company: TELO
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023970
Chunk: 14

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 14
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 with the IPO in February 2024, the Company issued 50,000 warrants to purchase common stock to the IPO underwriter (or its
designees) at an exercise price of $7.00 are exercisable immediately and will expire in the four-and-a-half-year period commencing six
months after the IPO. The warrants will be exercisable at any time and from time to time, in whole or in part. The warrants provide for
registration rights (including a one-time demand registration right and piggyback registration rights that expire 5 years from the commencement
of sales of the offering) and customary anti-dilution provisions as permitted under FINRA Rule 5110(g)(8).

2023
Omnibus Incentive Plan

In
December 2023, the Company’s Board of Directors adopted the Company’s 2023 Omnibus Incentive Plan, (“2023 Omnibus Plan”).
The 2023 Omnibus Plan authorizes the grant of incentive stock options, within the meaning of Section 422 of the Internal Revenue Code,
to the Company’s employees and any of its parent and subsidiary corporations’ employees, and for the grant of nonstatutory
stock options, restricted stock, restricted stock units, stock appreciation rights, performance units and performance shares to the Company’s
employees, directors, and consultants and any of its future subsidiary corporations’ employees and consultants

The
2023 Omnibus Plan provides that 6,500,000 shares of the Company’s Common Stock are reserved for issuance under the 2023 Omnibus
Plan, all of which may be issued pursuant to the exercise of incentive stock options.

Stock-based
compensation

The
fair value of each option award is estimated on the grant date using the Black-Scholes valuation model that uses assumptions for expected
volatility, expected dividends, expected term, and the risk-free interest rate. Expected price volatility is based on the historical
volatilities of a peer group as the Company does not have a multi-year trading history for its shares. Industry peers consist of several
public companies in the biotech industry similar to the Company in size, stage of life cycle and product indications. The Company intends
to continue to consistently apply this process using the same or similar public companies until a sufficient amount of historical information
regarding the volatility of the Company’s own stock price becomes available, or unless circumstances change such that the identified
companies are no longer similar to the Company, in which case, more suitable companies whose share