Company: SHPH
Filing Date: 2025-05-06
Form Type: DEF 14A
Source: 0001641172-25-008884
Chunk: 6

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-05-06
Form: DEF 14A
Chunk 6
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 seeking stockholder approval                                  
 in advance. The proposed terms of such offering, which may be adjusted prior to closing,                                         
 are detailed below.                                                                                                              
 The                                                                                                                              
 Board of Directors believes voting For this Proposal No. 8 is in the best interests of the Company as it will assist the Company 
 to quickly raise additional capital through an offering of our sale of common stock through the planned ELOC Agreement, and thus 
 provide us with the necessary capital to support our ongoing Phase 2 clinical trial of Ropidoxuridine.                           
 The                                                                                                                              
 Board of Directors therefore recommends you vote “FOR” the approval of the issuance in excess of 20% of the Company’s            
 common stock under the planned ELOC Agreement. The anticipated details of such offering are described in more detail below.      |

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General Information About the ELOC

The Company intends to enter into a securities purchase agreement (the “Purchase Agreement”) with an institutional investor (the “Investor”), providing for a committed equity financing facility, pursuant to which, upon the terms and subject to the satisfaction of the conditions contained in the Purchase Agreement, the Investor will agree to be committed to purchase, at the Company’s direction in its sole discretion, up to a certain amount of shares of our Common Stock or other securities of the Company (the “Purchase Securities”), subject to certain limitations set forth in the Purchase Agreement, from time to time during the term thereof (the “Committed Equity Financing”). However, no assurance at this time can be given that the Company and the Investor will enter into a definitive agreement for a Committed Equity Financing.

Concurrently with the execution of the Purchase Agreement, the Company may enter into a registration rights agreement with the Investor (the “Registration Rights Agreement”), pursuant to which the Company will agree to file with the SEC one or more registration statements, to register under the Securities Act of 1933, as amended, the offer and resale by the Investor of all of the Purchase Securities that may be issued and sold by the Company to the Investor from time to time under the Purchase Agreement.

Additionally, as consideration for the Investor’s irrevocable commitment to purchase shares of Common Stock or other securities of the Company upon the terms of and subject to satisfaction of the conditions set forth in the Purchase Agreement, concurrently with the execution and delivery of the Purchase Agreement, we may also issue to the Investor a percentage (between 1% and 3%) of the total ELOC amount payable in either cash, shares of Common