Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 810

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 4
Chunk 810
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 warrants to purchase 10% of the total number of shares issuable upon conversion
of the Convertible Notes, exercisable at the conversion price of the Convertible Notes for the March offering.

55

Effective
March 30, 2022, the Company issued a total of 839 shares (105 shares on a post-reverse split basis) of common stock (the
“Issuance”) to some 23 existing shareholders in satisfaction of certain interest that had accrued as the result of an
inaccurate conversion of convertible notes in our 2018 share exchange. The Issuance satisfied in full all interest owed or otherwise
accruing as the result of the inaccurate conversion. Such issuance was made in accordance with Rule 506(b) of the Securities
Act.

On
August 1, 2022, in conjunction with entering into three loan agreements for a total of $125,000, which were repayable following consummation
of our IPO, we issued warrants to purchase a total of 6,250 shares of our common stock, exercisable at $20.00 per share. Such warrants
were sold to three accredited investors pursuant to an exemption from registration under Rule 506(b) of the Securities Act. Boustead
Securities LLC acted as placement agent and received warrants to purchase 625 shares of common stock exercisable at $20.00 per share,
equal to 10% of the value of the note offering, and $12,500 in cash compensation.

On
January 11, 2023, we entered into a stock purchase agreement (the “SPA”) with the Alto Opportunity Master Fund, SPC –
Segregated Master Portfolio B, a Cayman entity (the “Investor”), pursuant to which the Company sold to the Investor a $4.3
million convertible note (the “Convertible Note”) and warrant (the “Warrant”) to purchase 127,260 shares of common
stock of the Company, in exchange for gross proceeds of $4.0 million Investment Amount. The Convertible Note amortizes on a monthly basis
and the Company can make such monthly amortization payments in cash or, subject to certain equity conditions, in registered shares of
common stock or a combination thereof. For equity repayment, the Convertible Note is convertible into shares of common stock at price
per share equal to the lower of (i) $18.80 (ii) 90% of the three lowest daily VWAPs of the 15 trading