Company: SHPH
Filing Date: 2025-05-06
Form Type: DEF 14A
Source: 0001641172-25-008884
Chunk: 3

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-05-06
Form: DEF 14A
Chunk 3
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. 7: APPROVAL OF THE ISSUANCE OF MORE THAN 20% OF OUR COMMON STOCK UPON THE OFFERING, SALE AND SUBSEQUENT CONVERSION OF CONVERTIBLE PREFERED STOCK OR COMMON STOCK IN ACCORDANCE WITH NASDAQ LISTING RULE 5635(D).

The Board of Directors recommends that you vote FOR the issuance of more than 20% of our common stock upon issuance of our common stock, through the sale of preferred stock convertible into common stock at a 10% discount to market prices, in a private placement in compliance with Nasdaq Listing Rule 5635(d). We are seeking to raise approximately $6.0 million through the issuance of convertible preferred stock, at a market price below the “Minimum Price” as defined in Nasdaq Listing Rule 5635(d). We will be required to complete such an offering in the near future to raise funds to support our ongoing Phase 2 clinical trial for Ropidoxuridine and will need stockholder approval to issue stock in excess of 20% at a price below the “Minimum Price.” While we have not yet commenced such offering, we are seeking stockholder approval in advance so that we can obtain the required stockholder vote at our upcoming 2025 Annual Meeting of Stockholders. If so approved, we believe we will be able to more quickly complete the proposed offering and obtain the capital necessary to fund our business and maintain our listing on the Nasdaq Capital Market.

Proposal No. 7 The approval of the issuance of in excess of 20% of our common stock upon the conversion of convertible preferred stock at a price less than the “Minimum Price,” in compliance with Nasdaq Listing Rule 5635(d).

| What                                  
 am I voting on and how should I vote? |     | You                                                                                                                                
 are being asked to approve the issuance of in excess of 20% of our common stock, which may                                         
 be issuable upon completion of a convertible preferred stock offering in which shares of                                           
 common stock would be deemed sold at a price below the “Minimum Price” as defined                                                  
 under Nasdaq Listing Rule 5635(d). While we have not yet commenced such stock offering, we                                         
 anticipate, in light of current market conditions, that we will need to sell our stock at                                          
 a floating 10% discount to market prices. In the event we do not receive stockholder approval                                      
 at our 2025 Annual Meeting Stockholders for this Proposal No. 7, we will be limited