Company: SHPH
Filing Date: 2025-03-05
Form Type: S-1/A
Source: 0001493152-25-009106
Chunk: 67

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-03-05
Form: S-1/A
Chunk 67
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 us from the sale
of the securities in this offering. Prior to the effective date of this prospectus,
we have paid the Underwriter advances of $45,000, including a $25,000 retainer for its legal counsel and a $20,000 retainer for its anticipated
out-of-pocket costs, each of which shall be deducted against legal fees and transaction expenses, respectively. Such advance payments
will be returned to us to the extent such out-of-pocket expenses are not actually incurred in accordance with FINRA Rule 5110(g)(4)(A).

We estimate that our total expenses of the offering,
excluding the estimated underwriting discounts and commissions the fees of Underwriter’s legal counsel and the non-accountable
expense allowance, will be approximately $167,471.

Right of First Refusal

We have granted the Underwriter a right of first refusal for a period of three months commencing on the closing of the offering to act as sole advisor, investment bank, book-running manager and/or placement agent, as applicable, at the Underwriter’s sole discretion, for each and every public and private equity or debt financing transaction or merger and acquisition transaction by us, a subsidiary or any successor, on compensation terms customary to the Underwriter. The Underwriter shall have the sole right to determine whether or not any other broker dealer shall have the right to participate in any such offering and the economic terms of any such participation and the Underwriter’s decision to not so act for any one or more of such offerings shall not be deemed a waiver of its continuing rights under the right of first refusal. The Underwriter’s right of first refusal set forth in this paragraph shall be subject to FINRA Rule 5110(g).

Lock-Up Agreements

Pursuant to certain “lock-up” agreements, our executive officers, directors and holders of at least 5% of our common stock and securities exercisable for or convertible into common stock outstanding immediately upon the closing of this offering, have agreed, subject to certain exceptions, not to offer, sell, assign, transfer, pledge, contract to sell, or otherwise dispose of or announce the intention to otherwise dispose of, or enter into any swap, hedge or similar agreement or arrangement that transfers, in whole or in part, the economic risk of ownership of, directly or indirectly, engage in any short selling of any shares of common stock or securities convertible into or exchangeable or exercisable for any shares of common stock, whether currently owned or subsequently acquired, without the prior written consent of the Underwriter