Company: INDP
Filing Date: 2025-06-13
Form Type: 8-K
Source: 0001641172-25-014972
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Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-06-13
Form: 8-K
Item: Item 1.01
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Item       Entry                                  

On
June 12, 2025, Indaptus Therapeutics, Inc. (the “ Company”) entered into securities purchase agreements (the
“ Purchase Agreements”) with certain accredited investors (the “ Purchasers”) for the offering in a private
placement of convertible promissory notes in the aggregate principal amount of $2.3 million (the “ Notes”) and
warrants (the “ Warrants”) to purchase shares of common stock, par value $0.01 per share (“ Common Stock”).
The closing of private placement occurred on June 12, 2025 resulting in gross proceeds of $2.3 million, before deducting the
placement agent’s fees and other offering expenses.

The
Company intends to use the net proceeds from the Offering for research and development activities including the funding of a Phase 1b/2
clinical trial as well as for working capital and general corporate purposes.

The
Notes bear interest at the rate of 6% per year and will mature on July 28, 2026 (the “ Maturity Date”). The Notes will convert,
together with accrued interest, into shares of the Company’s Common Stock (the “ Conversion Shares”) on the date (the
“ Conversion Date”) which is the earlier of (i) the date that is 30 days from the effectiveness of a reverse split effected
by the Company on Nasdaq, and (ii) the one-year anniversary from the issuance of the Notes. The conversion price per share of Common
Stock (the “ Conversion Price”) will be equal to 80% of the average Nasdaq official closing price of the Common Stock for
the five trading days immediately preceding and including the Conversion Date, subject to a maximum conversion price of $0.40, as adjusted
for stock splits and the like.

If
after giving effect to the conversion of the Notes, any such holder of the Notes would beneficially own in excess of 4.99% or 9.99% of
the shares of Common Stock outstanding immediately after giving effect to such conversion, then in lieu of receipt of shares of Common
Stock upon conversion, the holder shall receive such pre-funded warrants, in substantially the same form as the Warrants, but with an
exercise price for the pre-funded warrants of $0.01 per share and no expiration date (the “ Pre-Funded Warrants”).

Within
10 days of the later of the Conversion Date and the date stockholder approval is obtained,