Company: LBRX
Filing Date: 2025-07-23
Form Type: DRS/A
Source: 0000950123-25-006557
Chunk: 358

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-07-23
Form: DRS/A
Chunk 358
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 or splits or similar transactions with respect to such shares), or (ii) the amount that would be received if the Series B Preferred were converted to Common Stock (“Series B Preference Amount”). In the
event the funds or assets are insufficient to pay in full the Series B Preference Amount, as described above, then all funds or assets available for shall be paid to the holders of Series B Stock pro rata based on the full Series C Preference Amount
to which they are entitled.

F-24

LB Pharmaceuticals Inc

Notes to Financial Statements

Third: Series A preferred stockholders will be entitled to receive the greater
of: (i) $2.30 per share (adjusted for any stock dividends, combinations or splits or similar transactions with respect to such shares), or (ii) the amount that would be received if the Series A Preferred were converted to Common Stock
(“Series A Preference Amount”). In the event the funds or assets are insufficient to pay in full the Series A Preference Amount, as described above, then all funds or assets available for shall be paid to the holders of Series A Stock pro
rata based on the full Series A Preference Amount to which they are entitled.

Fourth: Series Seed preferred stockholders
will be entitled to receive the greater of: (i) $1.50 per share (adjusted for any stock dividends, combinations or splits or similar transactions with respect to such shares), or (ii) the amount that would be received if the Series Seed
Preferred were converted to Common Stock (“Series Seed Preference Amount”). In the event the funds or assets are insufficient to pay in full the Series Seed Preference Amount, as described above, then all funds or assets available for
shall be paid to the holders of Series Seed Stock pro rata based on the full Series Seed Preference Amount to which they are entitled.

After payment of the liquidation preference to the holders of Preferred Stock, the remaining assets of the Company shall be distributed ratably
to the holders of common stock on a fully converted basis.

The Preferred Stock may be redeemed upon a Deemed Liquidation Event as defined in the
Company’s Fourth Amended and Restated Certificate of Incorporation. The Preferred Stock will be redeemed as detailed above and may be redeemed at the greater of (i) the original issue price per share, plus any dividends declared but unpaid
thereon, or (ii) such amount per share as would have been payable had all shares of such class or series of Preferred Stock been converted into common stock prior to the Deemed Liquid