Company: INDP
Filing Date: 2025-07-01
Form Type: 8-K
Source: 0001641172-25-017283
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Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-07-01
Form: 8-K
Item: Item 1.01
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Item       Entry                                  

As
previously reported on its Current Report on Form 8-K filed on June 13, 2025 (the “ Prior 8-K”), on June 12, 2025, Indaptus
Therapeutics, Inc. (the “ Company”) entered into securities purchase agreements (the “ Purchase Agreements”) with
certain accredited investors (the “ Purchasers”) for the offering (the “ Offering”) in an ongoing private
placement of convertible promissory notes in the aggregate principal amount of approximately $2.3 million (the “ Notes”) and
warrants (the “ Warrants”) to purchase shares of common stock, par value $0.01 per share (“ Common Stock”). The
first closing of the private placement occurred on June 12, 2025.

On
June 30, 2025, the Company entered into additional Purchase Agreements with Purchasers for the offering in the private placement of Notes
in the aggregate principal amount of approximately $3.4 million and Warrants to purchase shares of Common Stock, which closed on the
same day. The aggregate principal amount of the second and final closing of the private placement together with the first
closing, was approximately $5.7 million, before deducting the placement agent’s fees and other offering expenses.

The
Company intends to use the net proceeds from the Offering for research and development activities including the funding of a Phase 1b/2
clinical trial as well as for working capital and general corporate purposes.

The
Notes bear interest at the rate of 6% per year and will mature on July 28, 2026 (the “ Maturity Date”). The Notes will convert,
together with accrued interest, into shares of the Company’s Common Stock (the “ Conversion Shares”) on the date (the
“ Conversion Date”) which is the earlier of (i) the date that is 30 days from the effectiveness of a reverse split effected
by the Company on Nasdaq (i. e. July 27, 2025), and (ii) the one-year anniversary from the issuance of the Notes. The conversion
price per share of Common Stock (the “ Conversion Price”) will be equal to 80% of the average Nasdaq official closing price
of the Common Stock for the five trading days immediately preceding and including the Conversion Date, subject to a maximum conversion
price of $11.20.

If
after giving effect to the conversion of the Notes, any