Company: NDRA
Filing Date: 2025-07-16
Form Type: S-1/A
Source: 0001654954-25-008117
Chunk: 37

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-07-16
Form: S-1/A
Chunk 37
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 possible that we would still be delayed or may otherwise experience difficulty in accessing our cryptocurrencies held by the affected custodian during the pendency of the insolvency proceedings. Any such outcome could have a material adverse effect on our financial condition and the market price of our listed securities.

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<div align='center'>USE OF PROCEEDS</div>

We estimate that the net proceeds to us from the issuance and the sale of the securities in this offering will be approximately $118.0 million (or approximately $136.0 million if the underwriter exercises in full its over-allotment option), in each case after deducting the underwriting discount and estimated offering expenses payable by us, based on the assumed public offering price of $8.07 per share, the last reported sale price of our common stock on the Nasdaq Capital Market on July 15, 2025.

We intend to use the majority of the net proceeds from this offering to establish the Company’s cryptocurrency treasury operations and the accumulation of cryptocurrency. We plan to adopt a policy pursuant to which we will maintain a majority of our holdings in the Company’s treasury reserve as bitcoin and other cryptocurrencies that are intrinsically linked to a blockchain system. Additionally, we will monitor ongoing developments in the regulatory environment around cryptocurrencies, including pending federal legislation, and may modify or expand our treasury strategy to the extent we determine compliant with federal rules and regulations and not giving rise to a requirement that the Company register under the 1940 Act.

We plan to hold substantially all of our cryptocurrency in custody accounts at a U.S.-based, institutional-grade custodian that has demonstrated a record of regulatory compliance and information security. However, as of the date of this prospectus, we have not yet entered into a custodial arrangement with any such custodian. If we are not able to enter into a custodial agreement prior to or shortly following the consummation of the offering, we will maintain the net proceeds from this offering that we intend to use to purchase cryptocurrency as cash deposits or cash management instruments, such as U.S. government securities or money market mutual funds until such time that we enter into a custodial arrangement for our cryptocurrency holdings.

We intend to use the remaining portion of the net proceeds, an amount equal to approximately 5.0% of the net proceeds of the offering, up to $5.0 million and subject to a floor of $3.0 million, for research and product development, to fund clinical trials and for working capital and general corporate purposes. We have not yet