Company: INDP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001641172-25-023333
Chunk: 47

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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    anniversary of the issue date. The fair value of a warrant to purchase one share of common stock that was issued to the placement
    agent was $20.72.

    c.
    On
    February 12, 2025, the Company entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, LTD., a
    Cayman Islands exempt limited company (“Yorkville”), which provides that, upon the terms and subject to the restrictions
    and satisfaction of the conditions in the SEPA, Yorkville is committed to purchase up to an aggregate of $20.0
    million of the Company’s shares of common stock over a 36-month period. At the Company’s option, the shares of common
    stock would be purchased by Yorkville from time to time at a price equal to 97% of the lowest of the three daily VWAPs during a
    three consecutive trading day period commencing on the date that the Company, subject to certain limitations, delivers a notice to
    Yorkville that the Company is committing Yorkville to purchase such shares of common stock. The Company may also specify a certain
    minimum acceptable price per share in each advance. The Company will control the timing and amount of sales of the Company’s
    shares to Yorkville. As consideration for Yorkville’s irrevocable commitment to purchase shares of the Company’s common
    stock upon the terms of and subject to restrictions and satisfaction of the conditions set forth in the SEPA, upon execution of the
    SEPA, the Company issued to Yorkville 10,927
    shares of common stock as commitment shares. Under the applicable Nasdaq Rules and pursuant to the SEPA, in no event may the Company
    issue or sell to Yorkville more than 100,830
    shares of common stock (the “Exchange Cap”), which is 19.99%
    of the shares of common stock outstanding immediately prior to the execution of the SEPA, unless (i) the Company obtains stockholder
    approval to issue shares of common stock in excess of the Exchange Cap, or (ii) the average price of all applicable sales of common
    stock under the SEPA equals or exceeds $22.882
    per share (which represents the lower of (i) the Nasdaq Official Closing Price (as reflected on Nasdaq.com) on the trading day
    immediately preceding the effective date or (ii) the average Nasdaq Official Closing Price of