Company: PSTV
Filing Date: 2025-06-09
Form Type: DRS
Source: 0000950123-25-005986
Chunk: 15

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-06-09
Form: DRS
Chunk 15
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 rights of first refusal, participation rights, penalties or liquidated damages in the Purchase
Agreement or Registration Rights Agreement, other than a prohibition on our entering into certain types of transactions that are defined in the Purchase Agreement as “Variable Rate Transactions.” Lincoln Park may not assign or transfer its
rights and obligations under the Purchase Agreement.

As consideration for Lincoln Park’s irrevocable commitment to purchase shares
of our common stock upon the terms of and subject to satisfaction of the conditions set forth in the Purchase Agreement, we paid $[ ] in cash as an Initial Commitment Fee and issued [ ] Commitment Shares to Lincoln Park in consideration
for its commitment to purchase shares of our common stock at our direction under the Purchase Agreement. We have also agreed to pay an Additional Commitment Fee of $[ ], which we may elect to pay in cash or shares of our common stock or any
combination thereof, upon our receipt of $[ ] million aggregate gross proceeds from sales of common stock to Lincoln Park under the Purchase Agreement.

As of [ ], 2025, there were [ ] shares of our common stock outstanding, of which [ ] shares of our common stock were held by
non-affiliates. If all of the 15,000,000 shares offered by Lincoln Park under this prospectus were issued and outstanding, such shares would represent approximately [ ]% of the total number of shares of
our common stock outstanding and approximately [ ]% of the total number of outstanding shares held by non-affiliates, in each case as of [ ], 2025. The Purchase Agreement provides that we may sell
up to an aggregate of $[50.0] million of our common stock to Lincoln Park, of which $[ ] million remains to be sold under the Purchase Agreement. We have filed the registration statement that includes this prospectus so that we may issue to
Lincoln Park up to 15,000,000 shares of our common stock from time to time from and after the date of this prospectus through sales under the Purchase Agreement. Depending on the market prices of our common stock at the time we elect to issue and
sell such shares to Lincoln Park under the Purchase Agreement,

7

Confidential Treatment Requested by Plus Therapeutics, Inc. Pursuant to 17 C.F.R. Section 200.83 we may need to sell more shares to Lincoln Park than are offered under this prospectus to receive aggregate gross proceeds equal to the $[ ] million total commitment of Lincoln Park under the Purchase Agreement, in