Company: PSTV
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006916
Chunk: 10

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-08-04
Form: DRS
Chunk 10
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sales, could make it more difficult for us to sell equity or equity-related securities in the future at a time and at a price that we might otherwise wish to effect sales.

We may not have access to the full amount available under the Purchase Agreement with Lincoln Park. We may require additional financing to sustain our operations, without which we may not be able to continue operations, and the terms of subsequent financings may adversely impact our stockholders.

We may direct Lincoln Park to purchase up to $50.0 million worth of shares of our common stock from time to time under the Purchase
Agreement over a 36-month period generally in amounts up to 300,000 shares of our common stock, which may be increased in amounts up to 400,000 shares if the last closing sale price for our common stock at the
time of the sale is not below $0.50 and up to a maximum amount of 500,000 shares of our common stock if the last closing sale price for our common stock at the time of sale is not below $0.75, provided that Lincoln Park’s committed obligation
under such single Regular Purchase shall not exceed $1,000,000. If and

4

Confidential Treatment Requested by Plus Therapeutics, Inc.

Pursuant to 17 C.F.R. Section 200.83

when we receive $25.0 million aggregate gross proceeds from sales of common stock to Lincoln Park under the Purchase Agreement, we are also required to pay the Additional Commitment Fee,
which we may elect to pay in cash, Additional Commitment Shares or any combination thereof, provided that we can only issue Additional Commitment Shares if we have registered those shares for resale under the Securities Act pursuant to a separate
resale registration statement.

Depending on the prevailing market price of our common stock, we may not be able to sell shares to Lincoln
Park for the maximum $50.0 million over the term of the Purchase Agreement, of which Lincoln Park has already purchased approximately $[2.8] million. We expect to receive on August 7, 2025 the stockholder approval required before issuing
more than the Exchange Cap limit of 10,194,593 shares (including the Initial Commitment Shares and Additional Commitment Shares, if applicable), which represents 19.99% of our outstanding shares immediately prior to the execution of the Purchase
Agreement.

In addition, Lincoln Park will not be required to purchase any shares of our common stock if such sale would result in Lincoln