Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 4

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1
Chunk 4
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 is committing Yorkville to purchase such shares of common stock. We may also specify a certain minimum
acceptable price per share in each Advance. As consideration for Yorkville’s irrevocable commitment to purchase our shares, we
issued to Yorkville 305,960 shares of common stock. Under the applicable rules of Nasdaq and pursuant to the SEPA, in no event may
we issue or sell to Yorkville more than 2,823,244 shares of common stock, or the Exchange Cap, which is 19.99% of the shares of
common stock outstanding immediately prior to the execution of the SEPA, unless (i) we obtain stockholder approval to issue shares
of common stock in excess of the Exchange Cap or (ii) the average price of all applicable sales of common stock under the SEPA
equals or exceeds $0.81722 per share (which represents the lower of (i) the Nasdaq Official Closing Price (as reflected on
Nasdaq.com) on the trading day immediately preceding the effective date or (ii) the average Nasdaq Official Closing Price of the
common stock (as reflected on Nasdaq.com) for the five trading days immediately preceding the effective date). In addition,
effective February 12, 2025, we terminated the purchase agreement that we entered into with Lincoln Park Capital Fund, LLC in
December 2022.

January
2025 Financing

On
January 12, 2025, we entered into securities purchase agreements, or the January 2025 Purchase Agreements, with certain institutional
and accredited investors, or the January 2025 Purchasers. The January 2025 Purchase Agreements provide for the sale and issuance by us
of an aggregate of: (i) 2,109,383 shares of our common stock and (ii) warrants to purchase 2,109,383 shares of common stock in a private
placement, or the January 2025 Warrants. The shares and January 2025 Warrants were sold on a combined basis for consideration of $1.065
for one share and a January 2025 Warrant. The exercise price of the January 2025 Warrants is $0.94 per share.

The
January 2025 Warrants were immediately exercisable upon issuance and will expire five years following the date of issuance. The January
2025 Warrants contain standard adjustments to the exercise price including for stock splits, stock dividends and reorganizations. In
lieu of making the