Company: INDP
Filing Date: 2025-09-02
Form Type: 424B5
Source: 0001493152-25-012530
Chunk: 14

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-09-02
Form: 424B5
Chunk 14
---
 of our shares of common stock in this offering, as illustrated in the following table:

| Assumed public offering price per share                                                                          
 Net tangible book value per share as of June 30, 2025                                                            |     |   | (2.765 | ) |     |   | 7.070 |
|:-----------------------------------------------------------------------------------------------------------------|:----|:--|-------:|:--|:----|:--|------:|
| Increase in net tangible book value per share attributable to Pro Forma Adjustments                              |     | $ |  6.490 |   |     |   |       |
| Pro forma net tangible book value per share as of June 30, 2025 after giving effect to the Pro Forma Adjustments |     | $ |  3.725 |   |     |   |       |
| Increase per share attributable to new investors in this offering                                                |     | $ |  0.618 |   |     |   |       |
| Pro forma as adjusted net tangible book value per share as of June 30, 2025 after giving effect to this offering |     |   |        |   |     | $ | 4.343 |
| Dilution in net tangible book value per share to new investors in this offering                                  |     |   |        |   |     | $ | 2.727 |

The table above assumes for illustrative purposes that an aggregate of 330,975 shares of our common stock are sold during the term of the Offering Agreement with Wainwright at a price of $7.07 per share, the last reported sale price of our common stock on the Nasdaq Capital Market on August 25, 2025, for aggregate net proceeds of $2,240,000. In fact, the shares subject to the Offering Agreement with Wainwright will be sold, if at all, from time to time at prices that may vary. This information is supplied for illustrative purposes only.

The number of shares of common stock that will be outstanding after this offering as shown above is based on 604,963 shares of common stock outstanding as of June 30, 2025 and assumes no exercise of outstanding options or warrants to purchase additional shares and excludes as of such date:

| ● | 104,666                                                                                                                              
 shares of common stock issuable upon exercise of outstanding options under our Indaptus 2021 Stock Incentive Plan, or the 2021 Plan, 
 at a weighted exercise