Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 523

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 12
Chunk 523
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the closing of the IPO on December 4, 2024, the outstanding principal and all unpaid accrued interest, totalling $636,852, of the
Notes I converted into an aggregate of 227,447 share of common stock of the Company at $2.80, which is 70% of the offering price of $4.00.

Senior
Secured Note – Formerly Known as the Convertible Debt II

The
Note - On April 11, 2022, the Company entered into a securities purchase agreement with an accredited investor (the “Holder”).
Pursuant to the terms of the securities purchase agreement, the Company received aggregate gross proceeds of $1,000,000, less loan origination
costs of $22,667, and issued a (i) 10% original issue discount senior secured convertible note (the “Note II”) in the principal
amount of $1,111,111 and (ii) 514,403 shares of common stock.

The
Company will have the right at any time to redeem in cash all or a portion of Note II at 120% (or 125% on or after the first six months
from the closing) of the principal amount thereof plus any unpaid accrued interest to the date of repayment.

Pursuant
to the terms of the securities purchase agreement, the Company received aggregate gross proceeds of $1,000,000, less loan origination
costs of $22,667, and issued a (i) 10% original issue discount senior secured convertible note (the “Note II”) in the principle
amount of $1,111,111 and (ii) 514,403 shares of common stock.

Upon
an Event of Default (as defined therein) interest shall accrue at 1 1/2% per month and the 125% of principal and interest through maturity
shall be due and payable. At the Holder’s option the Holder shall be entitled to be paid in cash or after the Qualified Offering
(as defined in the Purchase Agreement) common stock with the conversion price of the common stock equal to a 30% discount to the lowest
closing price of the common stock for the 20 prior trading days.

On
October 10, 2022, Note II was amended to postpone the commencement of the principal payments from October 11, 2022 to November 11, 2022.
As consideration for the amendment, an additional 42,867 shares of common stock were