Company: SHPH
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001493152-25-003508
Chunk: 213

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 213
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 officer of the Company in the principal amount of $ 139,229, bearing interest at the rate of 7.5% per annum, with a maturity date of December 31, 2021. In December of 2021, the maturity dates of these loans were further extended to June 30, 2022. In July of 2022, the notes were extended to June 30, 2023.

On June 21, 2021, the Company entered into a loan from the spouse of an officer of the Company in the amount of $ 120,000(principal) with an interest rate of 7.5% per annum due June 21, 2022. In July of 2022, the loan was extended to June 30, 2023.

The Company accounted for these loan extensions during
the year ended December 31, 2022, as a troubled debt restructuring as the Company was experiencing financial difficulties and the extensions
represented a concession by the lenders. As the future undiscounted cash flows of these related party notes exceeded their carrying value,
no gain or loss was recognized upon the extensions.

As of June 30, 2023 principal payments of $ 685,473and interest of $ 104,968were paid. As of December 31, 2023, there were nooutstanding principal or interest balances for these related party notes.

On August 1, 2022, in conjunction with a private placement of notes and
warrants (as detailed in Note 6 below), in exchange for a $50,000 payment upon subscription, the Company issued a convertible note to
the spouse of an officer of the Company in the amount of $50,000(principal) with an interest rate of 6% per annum, and warrants to purchase
2,500 shares of common stock. The loan was fully repaid, including $822 of accrued interest, in September of 2022.

Note 6 - Notes Payable

Convertible Notes and Notes Payable

Alto Opportunity Master Fund, SPC

On January 11, 2023, the Company entered into a securities purchase agreement (the “SPA”) with Alto Opportunity Master Fund, SPC – Segregated Master Portfolio B, a Cayman entity (the “Investor”), pursuant to which the Company sold to the Investor a $ 4,300,000convertible note (the “Alto Convertible Note”) and warrant (the “Alto Warrant