Company: NDRA
Filing Date: 2025-10-30
Form Type: 424B5
Source: 0001213900-25-103705
Chunk: 57

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-30
Form: 424B5
Chunk 57
---
 participants or persons that hold interests through participants
will be able to beneficially own interests in a registered global security. The depository for a global security will maintain records
of beneficial ownership interests in a registered global security for participants. Participants or persons that hold through participants
will maintain records of beneficial ownership interests in a global security for persons other than participants. These records will be
the only means to transfer beneficial ownership in a registered global security.

<div align='center'>13</div>

The laws of some states may require that specified
purchasers of securities take physical delivery of the securities in definitive form. These laws may limit the ability of those persons
to own, transfer or pledge beneficial interests in global securities.

So long as the depository, or its nominee, is
the registered owner of a registered global security, the depository or its nominee will be considered the sole owner or holder of the
debt securities represented by the registered global security for all purposes under the indenture. Except as set forth below, owners
of beneficial interests in a registered global security:

| ● | may not have the debt securities represented by a registered global security registered in their names; |

| ● | will not receive or be entitled to receive physical delivery of debt securities represented by a registered global security in definitive 
 form; and                                                                                                                                 |

| ● | will not be considered the owners or holders of debt securities represented by a registered global security under the indenture. |

Accordingly, each person owning a beneficial interest
in a registered global security must rely on the procedures of the depository for the registered global security and, if the person is
not a participant, on the procedures of the participant through which the person owns its interests, to exercise any rights of a holder
under the indenture applicable to the registered global security.

We understand that, under existing industry practices,
if we request any action of holders, or if an owner of a beneficial interest in a registered global security desires to give or take any
action which a holder is entitled to give or take under the indenture, the depository for the registered global security would authorize
the participants holding the relevant beneficial interests to give or take the action, and the participants would authorize beneficial
owners owning through the participants to give or take the action or would otherwise act upon the instructions of beneficial owners holding
through them.

Payment of Interest on and Principal of Registered Global Securities

We will make principal, premium, if any, and interest
payments on debt securities represented by a registered global security