Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 364

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 364
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 greater
of: (i) $2.30 per share (adjusted for any stock dividends, combinations or splits or similar transactions with respect to such shares), or (ii) the amount that would be received if the Series A Preferred were converted to Common Stock
(“Series A Preference Amount”). In the event the funds or assets are insufficient to pay in full the Series A Preference Amount, as described above, then all funds or assets available for shall be paid to the holders of Series A Stock
pro rata based on the full Series A Preference Amount to which they are entitled.

Fourth: Series Seed preferred stockholders
will be entitled to receive the greater of: (i) $1.50 per share (adjusted for any stock dividends, combinations or splits or similar transactions with respect to such shares), or (ii) the amount that would be received if the Series Seed
Preferred were converted to Common Stock (“Series Seed Preference Amount”). In the event the funds or assets are insufficient to pay in full the Series Seed Preference Amount, as described above, then all funds or assets available for
shall be paid to the holders of Series Seed Stock pro rata based on the full Series Seed Preference Amount to which they are entitled.

After payment of the liquidation preference to the holders of Preferred Stock, the remaining assets of the Company shall be distributed ratably
to the holders of common stock on a fully converted basis.

The Preferred Stock may be redeemed upon a Deemed Liquidation Event as defined in the
Company’s Fourth Amended Certificate of Incorporation. The Preferred Stock will be redeemed as detailed above and may be redeemed at the greater of (i) the original issue price per share, plus any dividends declared but unpaid thereon, or
(ii) such amount per share as would have been payable had all shares of such class or series of Preferred Stock been converted into common stock prior to the Deemed Liquidation Event. As of December 31, 2024, the shares of Preferred Stock
were not redeemable and the likelihood of an occurrence of a Deemed Liquidation Event was not deemed to be probable.

Conversion: Each share
of Preferred Stock is convertible at the option of the holder at any time after issuance into the number of fully paid and non-assessable shares of common stock as determined by dividing the original issue
price of each series of Preferred Stock by the conversion price of each series in effect at time of the conversion. The initial conversion price is the respective original issue price, subject to adjustment in accordance with