Company: NDRA
Filing Date: 2025-10-15
Form Type: 8-K/A
Source: 0001654954-25-011825
Chunk: 2

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-15
Form: 8-K/A
Chunk 2
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 approximately $4.9 million. Lucid Capital Markets, LLC (the “Placement Agent”) acted as sole placement agent for the Offering.

The Company intends to use the majority of net proceeds from the Offering to establish the Company’s digital asset treasury (“DAT”) strategy, with a portion for working capital purposes including the pilot validation imaging study of the Company’s TAEUS liver device. Pursuant to the Securities Purchase Agreement, the Company may spend up to $750,000 of Offering proceeds on the pilot validation study and no more than $1 million in the aggregate, including Offering proceeds, on such study.

Each of the Prefunded Warrants is exercisable for one share of Common Stock at the exercise price of $0.0001 per share of Common Stock underlying the Prefunded Warrant (a “Prefunded Warrant Share”). The Prefunded Warrants are immediately exercisable and may be exercised at any time until all of the Prefunded Warrants issued in the Offering are exercised in full. Each of the Common Warrants is exercisable for one share of Common Stock at the exercise price of $6.32 per share of Common Stock (or, with respect Common Warrants issued to the Director Participant, $6.81 per share of Common Stock) (a “Common Warrant Share”). The Common Warrants are exercisable for cash immediately upon issuance and thereafter may be exercised at any time until five (5) years after such issuance. The Common Warrants may also be exercised on a cashless basis at any time beginning six (6) months after their initial issuance if, at the time of exercise, there is no effective registration statement registering, or the prospectus contained therein is not available for, the resale of the Common Warrant Shares by the holder thereof and are subject to cancellation by the Company if they are not exercised after certain specified trading criteria of the Common Stock is satisfied. Each holder’s ability to exercise its Prefunded Warrants and Common Warrants in exchange for shares of Common Stock is subject to certain beneficial ownership limitations set forth therein.

The foregoing descriptions of the Securities Purchase Agreement, Prefunded Warrants, and Common Warrants above do not purport to be complete and are qualified in their entirety by the full text of such documents, which are filed herewith as Exhibits 10.1, 4.1 and 4.2, respectively.

The Shares, the Prefunded Warrants, and the Common Warrants were offered and sold in reliance upon the exemption from the registration requirements of the Securities Act,