Company: PSTV
Filing Date: 2025-06-20
Form Type: 8-K
Source: 0001193125-25-143665
Chunk: 3

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-06-20
Form: 8-K
Item: Item 1.01
Chunk 3
---
 the execution of the Purchase Agreement and (B) the average official closing price of its common stock on Nasdaq for the ten consecutive trading days immediately preceding the execution of the Purchase Agreement and (ii) $0.049) so that the Exchange Cap limitation would not apply to issuances and sales of common stock under the Purchase Agreement pursuant to the rules and regulations of Nasdaq.

As previously disclosed, on June 17, 2025, the Company entered into a letter agreement (the “ Side Letter”) with certain holders of the Company’s warrants issued on March 4, 2025. Pursuant to the Side Letter, among other things, such holders agreed to return the shares and pre-fundedwarrants the Company issued to them on March 4, 2025 and the Company agreed to repay the holders holding such securities 115% of the value of such securities, using 90% of

the proceeds from any capital raised by the Company subsequent to July 1, 2025 (the “ Make-Whole Repayment”). The total amount of the repayment is approximately $17.3 million. The net proceeds under the Purchase Agreement to the Company will depend on the frequency and prices at which the Company sells shares of its stock to Lincoln Park. The Company expects that any proceeds received by the Company from such sales to Lincoln Park will be used for working capital and general corporate purposes and, if required, Make-Whole Repayment.

The Company has agreed with Lincoln Park that it will not enter into any “equity line of credit” or “at the market” transactions with any third party for a period defined in the Purchase Agreement. Lincoln Park has covenanted not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of the Company’s shares.

As consideration for Lincoln Park’s commitment to purchase shares of the Company’s common stock upon the terms of and subject to satisfaction of the conditions set forth in the Purchase Agreement, the Company agreed to pay Lincoln Park an initial commitment fee on a date selected by the Company between July 1, 2025 and August 8, 2025 at a value of $500,000 in cash, shares of common stock or any combination thereof. An additional commitment fee of $500,000 will be paid if and when the Company sells over $25.0 million of the Company’s common stock under the Purchase Agreement. The additional commitment fee may be paid in cash, common stock, or any combination of cash and common stock.

The Purchase Agreement and