Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 175

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 175
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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 principle
amount of $1,111,111 and (ii) 514,403 shares of common stock.

Upon
an Event of Default (as defined therein) interest shall accrue at 1 1/2% per month and the 125% of principal and interest through maturity
shall be due and payable. At the Holder’s option the Holder shall be entitled to be paid in cash or after the Qualified Offering
(as defined in the Purchase Agreement) common stock with the conversion price of the common stock equal to a 30% discount to the lowest
closing price of the common stock for the 20 prior trading days.

On
October 10, 2022, Note II was amended to postpone the commencement of the principal payments from October 11, 2022 to November 11, 2022.
As consideration for the amendment, an additional 42,867 shares of common stock were issued to the Holder on October 10, 2022, valued
at 1/12th of the original 514,403 shares issued at commencement of Note II.

On
November 10, 2022, Note II was amended to postpone the commencement of the principle from November 11, 2022 to February 11, 2023 and
payable in three monthly instalments. An additional 128,599 shares of common stock were issued to the Holder on November 10, 2022, value
at 1/4th of the original 514,403 shares issued at commencement of Note II.

On
February 6, 2023, Note II was amended to postpone the commencement of the principle to February 28, 2023. On March 6, 2023, Note II was
amended to postpone the commencement of the principal from February 11, 2023 to May 31, 2023. The Company and the noteholder agreed to
a repayment plan on past due interest. In addition, the Company agreed to prepay in cash the aggregate principal amount of the Note II
of 120% (or 137.5% on or after the first six months from closing) plus any accrued interest