Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 498

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 1A
Chunk 498
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 2024 the Company entered into an unsecured Promissory Note and Loan Agreement (“the Starwood Note”) with the
Starwood Trust, a separate related party trust established by the Company’s founder for the benefit of the founder’s family.
Under the Starwood Note, the Company has the right to borrow up to an aggregate of $5 million from the Starwood Trust at any time
up until the second anniversary of the note. The Company’s right to borrow funds under the Starwood Note is subject to the absence
of a material adverse change in its assets, operations, or prospects. The Starwood Note, together with accrued interest, is to become
due and payable on the second anniversary of the issuance of the note, provides for prepayment at any time without penalty, and accrues
simple interest at a rate equal 7% per annum. As of December 31, 2024, the Company has not borrowed any amounts under the Starwood
Note.

Further,
on December 9, 2024, Starwood Trust entered into a stock purchase agreement with the Company to purchase 142,857 shares
of unregistered common stock at $7 a share for a total of $1.0 million in proceeds to the Company.

71

Review
and Approval of Related Party Transactions

Our
board of directors adopted a written policy regarding the review and approval of related party transactions. Our audit committee charter
provides that the audit committee shall review and approve or disapprove any related party transactions, which are transactions between
us and related persons in which the aggregate amount involved exceeds or may be expected to exceed $120,000 and in which a related person
has or will have a direct or indirect material interest. Our policy regarding transactions between us and related persons will provide
that a related person is defined as a director, executive officer, nominee for director or greater than 5% beneficial owner of our common
stock, in each case since the beginning of the most recently completed year, and any of their immediate family members.

Certain
of the foregoing disclosures are summaries of certain provisions of our related party agreements and are qualified in their entirety
by reference to all of the provisions of such agreements. Because these descriptions are only summaries of the applicable agreements,
they do not necessarily contain all of the information that you may find useful. Copies of certain of the agreements have been filed
as exhibits to the registration statement of which this Annual Report is a part and are available electronically on the website of the
SEC at