Company: SHPH
Filing Date: 2025-03-13
Form Type: 424B3
Source: 0001493152-25-010109
Chunk: 14

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-03-13
Form: 424B3
Chunk 14
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 Nasdaq Capital Market. The Company subsequently submitted a revised plan of compliance to Nasdaq on November 14, 2024. The Company’s plan to regain compliance was accepted, and Nasdaq granted an extension of 180 calendar days from September 10, 2024, or until March 10, 2025, for the Company to regain compliance. Following closing of this Offering, the Company believes it has regained compliance with the Nasdaq minimum stockholders’ equity requirement. However, such compliance will be subject to ongoing monitoring by Nasdaq, including the requirement that our stockholders’ equity exceeds $2.5 million in our Quarterly Report on From 10-Q for the period ending March 31, 2025.

On December 31, 2024, the Company, received a letter from The Nasdaq stating that for the 30 consecutive business day period between November 15, 2024 to December 30, 2024 the Company’s common stock had failed to maintain a minimum closing bid price of $1.00 per share, as required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has an initial period of 180 calendar days, or until June 30, 2025 (the “Compliance Period”), to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days.

There can be no assurance that the Company will be able to regain compliance and maintain its listing on the Nasdaq Capital Market. If the Company fails to satisfy another Nasdaq requirement for continued listing, Nasdaq could provide notice that the Company’s securities will become subject to delisting. In such event, the Company will have an opportunity to appeal Nasdaq’s decision to a hearings panel.

2024 Reverse Stock Split

On August 31, 2023 we received a letter from the Nasdaq Listing Qualifications Staff of the Nasdaq (the “Staff”) stating that for the 30 consecutive business day period the Company’s common stock had failed to maintain a minimum closing bid price of $1.00 per share, as required for continued listing on The Nasdaq Capital Market pursuant to the Minimum Bid Price Requirement.

In order to regain compliance with the Minimum Bid Price Requirement, on August