Company: SHPH
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001641172-25-001889
Chunk: 23

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 23
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 or (ii) the price of any offering entered into by the Company during the Term of the convertible notes, including the Company’s planned follow-on offering. As a result of our March 13, 2025 capital raise, the conversion price was reset to $0.30 per share. The warrants are immediately exercisable after issuance and will remain exercisable for a period of five years from the date of issuance. The exercise price is subject to adjustment for any stock split, stock dividend, stock combination, recapitalization or similar event. As of December 31, 2024, there was outstanding principal and interest balances for the related party note of $250,000 and $7,955, respectively. Under the fair value option, the senior convertible note is $206,085 as of December 31, 2024.

On March 5, 2025, the Company entered into a loan agreement with our Chief Executive Officer, Dr. Anatoly Dritschilo, pursuant to which Dr. Dritschilo loaned the Company of $75,000 (principal), bearing interest at the rate of 14% per annum and which is repayable with accrued interest in one month.

Review, Approval and Ratification of Related Party Transactions

All related party transactions are subject to the review, approval, or ratification of our Board of Directors or an appropriate committee thereof.

Delinquent Section 16(a) Reports

Section 16(a) of the Exchange Act requires our executive officers and directors, and persons who own more than 10% of our common stock, to file reports regarding ownership of, and transactions in, our securities with the SEC and to provide us with copies of those filings.

To the Company’s knowledge, based solely on our review of the copies of such forms furnished to us and written representations by our officers and directors regarding their compliance with applicable reporting requirements under Section 16(a) of the Exchange Act, we believe that all Section 16(a) filing requirements for our executive officers, directors and 10% stockholders were met during the year ended December 31, 2024, except for the following:

Delinquent Section 16(a) Reports:

| Name              |     | Late    
 Reports |     | Transactions 
 Covered*     |     | Number    
 of Shares |         |
| Chris Senanayake  |     | Form 4  |     | common stock |     |           |   1,626 |
| Timothy J. Lorber |     | Form