Company: TELO
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010298
Chunk: 70

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 70
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’s family.
Under the Starwood Note, the Company has the right to borrow up to an aggregate of $5 million from the Starwood Trust at any time up
until the second anniversary of the note. The Company’s right to borrow funds under the Starwood Note is subject to the absence
of a material adverse change in its assets, operations, or prospects. The Starwood Note, together with accrued interest, is to become
due and payable on the second anniversary of the issuance of the note, provides for prepayment at any time without penalty, and accrues
simple interest at a rate equal 7% per annum. As of March 31, 2025, the Company has not borrowed any amounts under the Starwood Note.

    10

TELOMIR
PHARMACEUTICALS, INC.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

FOR
THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024

(Unaudited)

Further,
on December 9, 2024, Starwood Trust entered into a stock purchase agreement with the Company to purchase 142,857 shares of unregistered
common stock at $7 a share for a total of $1.0 million in proceeds to the Company.

License
agreement - See Note 3.

Note
5. Stockholders’ equity (deficit):

Capital
stock

The
Company has the authority to issue 400,000,000 shares of capital stock, consisting of 300,000,000 shares of Common Stock and 100,000,000
shares of undesignated preferred stock, whose rights and privileges will be defined by the Board of Directors when a series of preferred
stock is designated.

ATM
Agreement

On
February 14, 2025, the Company filed a shelf registration statement with the SEC to facilitate the issuance of our common stock and entered
into an At The Market Offering Agreement (the “ATM Agreement”) with Rodman & Renshaw LLC under which the Company may offer and sell shares of its Common Stock, with an aggregate offering amount sold of up to $100,000,000.
As of March 31, 2025, the Company has not sold any shares under the ATM Agreement. (See Note 8.)

Warrants

In
connection with various transactions and the IPO summarized below, the Company issued stock warrants. Warrant activity for the three
months ended March 31,