Company: INDP
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021759
Chunk: 41

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 41
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 the Standby Equity Purchase Agreement
(the “SEPA”). During the nine-month period ended September 30, 2025, the Company raised under the SEPA net proceeds of approximately
$1.75 million, after deducting offering expenses in the amount of approximately $0.1 million. For more details, see Note 6(c). In June
2025, the Company raised total gross proceeds of approximately $5.7 million through the issuance of convertible notes. Placement agent
fees and other offering-related expenses totaled approximately $0.8 million. For more details, see Note 7. In September 2025, the Company
raised total gross proceeds of approximately $2.34 million through its At The Market Offering Agreement (“ATM Agreement”).
 For more details, see Note 6(d). However, there is no assurance that additional capital and/or financing will be available to the Company, and even if available, whether
it will be on terms acceptable to the Company or in the amounts required. If the Company is unsuccessful in securing sufficient financing,
it may need to delay, reduce, or eliminate its research and development programs, which could adversely affect its business prospects,
or cease operations.

As
a result of these uncertainties, there is substantial doubt about the Company’s ability to continue as a going concern. The unaudited
condensed consolidated financial statements do not include any adjustments to the carrying amounts and classifications of assets and
liabilities that would result if the Company was unable to continue as a going concern.

Reverse
Split

On
June 26, 2025, the Company effected a 1-for-28 reverse stock split of its common stock with the Company’s shares and began trading
on a post-split basis on the Nasdaq Capital Market on June 27, 2025, which resulted in the Company regaining compliance with the Nasdaq
minimum bid price requirement. As a result of the reverse stock split, every 28 shares of outstanding common stock were combined into
one share of common stock. The reverse stock split decreased the Company’s outstanding common stock from 16,946,528 shares to 604,963
shares as of that date. In addition, a proportionate adjustment was made to the per share exercise price and the number of shares issuable
upon the exercise of all outstanding options and warrants entitling the holders to purchase common stock. All share and per share amounts
in these unaudited condensed consolidated financial statements have been retroactively adjusted to reflect the