Company: PSTV
Filing Date: 2025-06-20
Form Type: S-1/A
Source: 0001193125-25-142935
Chunk: 24

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-06-20
Form: S-1/A
Chunk 24
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 the timing and progress of our research and development efforts, regulatory actions affecting our product candidates and our
business, technological advances and the competitive environment for our product candidates. As we are unable to predict the timing or amount of potential issuances of all of the shares being registered hereunder that are issuable to the Purchase
Agreement, we cannot specify with certainty all of the particular uses for the net proceeds that we will have from the sale of such shares. Accordingly, our management will have broad discretion in the application of the net proceeds. We may also
use a portion of the net proceeds to acquire or invest in complementary businesses, technologies, product candidates or other intellectual property, although we have no present commitments or agreements to do so. We may use the proceeds for purposes
that are not contemplated at the time of this offering. Pending use of the net proceeds as described above, we expect to invest the net proceeds in short- and intermediate-term, interest-bearing obligations, investment-grade instruments,
certificates of deposit or direct or guaranteed obligations of the U.S. government. It is possible that no shares will be issued under the Purchase Agreement.

14

DILUTION The sale of our common stock to Lincoln Park pursuant to the Purchase Agreement will have a dilutive impact on our stockholders. In addition, the lower our stock price is at the time we exercise our right to sell shares to Lincoln Park, the more shares of our common stock we will have to issue to Lincoln Park pursuant to the Purchase Agreement and our existing stockholders would experience greater dilution. After giving effect to the assumed sale of 17,000,000 shares of our common stock to Lincoln Park pursuant to the Purchase Agreement at an assumed sale price of $0.31 per share of our common stock (which represents the closing price of our common stock on June 16, 2025) and after deducting estimated offering expenses payable by us, our as-adjustednet tangible book value as of March 31, 2025 would have been approximately $(19.3) million, or $(0.57) per share. This represents an immediate increase in net tangible book value of $0.87 per share to existing stockholders and an immediate dilution of $0.88 per share to new investors. The table below illustrates this per share dilution:

| Assumed offering price per share                                  
 Historical net tangible book value per share as of March 31, 2025 |     |   |  0.31 
 (1.44 | )