Company: SHPH
Filing Date: 2025-04-22
Form Type: PRER14A
Source: 0001641172-25-005648
Chunk: 5

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-04-22
Form: PRER14A
Chunk 5
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 to the “Minimum Price” at the time of the offering. The Purchase Agreement will contain standard anti-dilution provisions, and the preferred stock will bear no dividends, be subject to registration rights for the underlying common stock, with such registration to be completed within a designated period following closing. The Purchase Agreement will also contain certain representations and warranties, covenants and indemnities customary for similar transactions. The Company will agree to reserve a minimum of two times the number of conversion shares issuable at all times, inclusive of the pre- or post-split number or shares issuable.

INTEREST OF CERTAIN PERSONS IN MATTERS TO BE ACTED UPON

No director or executive officer has any substantial interest, direct or indirect, by security holdings or otherwise, in this Proposal that is not shared by all of our other stockholders.

VOTE REQUIRED

Approval of this Proposal No. 7 requires the affirmative vote of the majority of the votes cast on this proposal. Abstentions and broker non-votes are not considered votes cast and will have no effect on the outcome of Proposal No. 7.

THE BOARD RECOMMENDS A VOTE “ FOR” APPROVAL, FOR PURPOSES OF COMPLYING WITH NASDAQ LISTING RULE 5635(D) IN CONNECTION WITH THE COMPANY’S PROPOSED OFFERING OF COMMON STOCK OR PREFERRED STOCK CONVERTIBLE INTO COMMON STOCK IN EXCESS OF 20% OF OUR COMMON STOCK PRESENTLY OUTSTANDING (OR OUTSTANDING AT THE TIME SUCH OFFERING OCCURS).

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PROPOSAL NO. 8: APPROVAL OF THE ISSUANCE OF MORE THAN 20% OF OUR COMMON STOCK UPON THE ISSUANCE OF COMMON STOCK UNDER A PLANNED EQUITY LINE OF CREDIT AGREEMENT IN ACCORDANCE WITH NASDAQ LISTING RULE 5635(D).

The Board of Directors recommends that you vote FOR the issuance of more than 20% of our common stock upon issuance of our common stock in accordance with a planned $5.0 million to $10.00 million equity line of credit agreement (“ELOC”) in compliance with Nasdaq Listing Rule 5635(d). Under the ELOC, the Company will be able to sell common stock to the ELOC investor, upon the occurrence of certain market condition set forth in the ELOC agreement, purchaser at a 10% discount to market. We will be required to complete such an offering in the near future to raise funds to support our ongoing Phase 2 clinical trial