Company: SHPH
Filing Date: 2025-03-13
Form Type: 424B3
Source: 0001493152-25-010109
Chunk: 53

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-03-13
Form: 424B3
Chunk 53
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 2023 Private Placement”) of the January 2023 Convertible Note and January 2023 Warrant. Boustead received a placement agent fee of $320,000 at the closing of the January 2023 Private Placement, representing 7.0% of the gross cash proceeds at the closing plus 1% in non-accountable expenses. In addition, Boustead received a placement agent warrant to purchase 71,266 shares (8,909 shares on a post-2024 Reverse Split basis) of common stock, representing 7.0% of the warrant shares issued in the January 2023 Private Placement. After deducting the placement agent fee and our estimated expenses associated with the January 2023 Private Placement, our net cash proceeds at the closing were approximately $3,590,000. As of September 30, 2024, the January 2023 Convertible Note had been paid in full.

The January 2023 SPA

The January 2023 SPA contains certain representations and warranties, covenants and indemnities customary for similar transactions. Under the January 2023 SPA, we also agreed to the following additional covenants:

| ● | So                                                                                                                                  
 long as the January 2023 Convertible Note remains outstanding, we will not effect or enter into an agreement to effect any variable 
 rate transaction other than a bona fide at-the-market offering or equity line of credit.                                            |
| ● | We                                                                                                                                  
 obtained majority stockholder consent approving the offering and the issuance of common stock upon conversion of the January 2023   
 Convertible Note and exercise of the January 2023 Warrant, as is required under the rules of the Nasdaq, and subsequently filed an  
 information statement on Schedule 14C (the “Information Statement”) informing all stockholders of the action and mailed             
 such Information Statement to all stockholders within 70 days of closing.                                                           |

| 36 |

In addition, we granted the January 2023 Investor participation rights in future equity and equity-linked offerings of securities, subject to certain limited exceptions, during the two years after the later of (a) the closing or (b) the date the January 2023 Convertible Note no longer remains outstanding, in an amount of up to 30% of the securities being sold in such offerings. On February 26, 2025, we entered into an amendment agreement with the Investor pursuant to which, in exchange for our payment of $75,000 to the Investor, the Investor agreed