Company: INDP
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001641172-25-006429
Chunk: 27

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 27
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 of Directors, in its sole discretion, determines that it is no longer in our best interest and the best interests of our stockholders to proceed with the Reverse Stock Split.

Effect of the Reverse Stock Split on Holders of Outstanding Common Stock

Depending on the ratio for the Reverse Stock Split determined by our Board of Directors, a minimum of 5 and a maximum of 28 shares in aggregate of existing common stock will be combined into one new share of common stock. Based on 16,034,444 shares of common stock issued and outstanding as of the Record Date, immediately following the reverse split the Company would have approximately 3,206,888 shares of common stock issued and outstanding if the ratio for the reverse split is 1-for-5, approximately 1,603,444 shares of common stock issued and outstanding if the ratio for the reverse split is 1-for-10, approximately 801,722 shares of common stock issued and outstanding if the ratio for the reverse split is 1-for-20, and approximately 572,658 shares of common stock issued and outstanding if the ratio for the reverse split is 1-for-28, which is the aggregate ratio allowed under this proposal. Any other ratios selected within such range would result in a number of shares of common stock issued and outstanding following the transaction between 3,206,888 and 572,658 shares. The foregoing does not give effect to (i) 2,887,197 shares of common stock issuable upon exercise of outstanding stock options as of the Record Date; and (ii) 8,745,923 shares of common stock issuable upon exercise of outstanding warrants as of the Record Date.

The actual number of shares issued after giving effect to the Reverse Stock Split, if implemented, will depend on the Reverse Stock Split ratio and the number of Reverse Stock Splits, if any, that are ultimately determined by our Board of Directors.

The Reverse Stock Split will affect all holders of our common stock uniformly and will not affect any stockholder’s percentage ownership interest in the Company (subject to the treatment of fractional shares). In addition, the Reverse Stock Split will not affect any stockholder’s proportionate voting power (subject to the treatment of fractional shares).

The Reverse Stock Split may result in some stockholders owning “odd lots” of less than 100 shares of common stock. Odd lot shares may be more difficult to sell, and brokerage commissions and other costs of transactions in odd lots are generally somewhat higher than the costs of transactions in “round lots” of