Company: INDP
Filing Date: 2025-09-02
Form Type: 424B5
Source: 0001493152-25-012530
Chunk: 13

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-09-02
Form: 424B5
Chunk 13
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<div align='center'>DIVIDEND POLICY</div>

We have never declared or paid cash dividends on our capital stock. We currently intend to retain our future earnings, if any, for use in our business and therefore do not anticipate paying cash dividends in the foreseeable future. Payment of future dividends, if any, will be at the discretion of our board of directors after taking into account various factors, including our financial condition, operating results, current and anticipated cash needs and plans for expansion.

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<div align='center'>DILUTION</div>

If you purchase shares of our common stock in this offering, your interest will be diluted to the extent of the difference between the public offering price per share and the net tangible book value per share of our common stock after this offering. Our net tangible book value as of June 30, 2025 was approximately $(1.7) million, or approximately $(2.765) per share. Net tangible book value per share is equal to total tangible assets minus the sum of total tangible liabilities divided by the total number of shares outstanding.

After giving effect to the issuance of on a pro forma basis of the issuance of 501,566 shares of common stock, pre-funded warrants to purchase 190,795 shares of common stock and warrants to purchase 1,467,805 shares of our common stock, following the automatic conversion of the June 2025 convertible notes PIPE, assuming exercise in full of the pre-funded warrants but no exercise of the warrants, our pro forma net tangible book value as of June 30, 2025, would have been approximately $4.8 million, or approximately $3.725 per share.

After giving further effect to the sale of our common stock during the term of the Offering Agreement with Wainwright in the aggregate amount of $2,340,000 at an assumed offering price of $7.07 per share, the last reported sale price of our common stock on the Nasdaq Capital Market on August 25, 2025, and after deducting commissions and estimated aggregate offering expenses payable by us, our net tangible book value as of June 30, 2025 would have been $7.1 million, or $4.343 per share of our common stock. This amount represents an immediate increase in pro forma as adjusted net tangible book value to existing stockholders of $0.618 per share and an immediate dilution in pro forma as adjusted net tangible book value of $2.727 per share to purchasers