Company: NDRA
Filing Date: 2025-10-30
Form Type: 424B5
Source: 0001213900-25-103705
Chunk: 34

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-30
Form: 424B5
Chunk 34
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 | 3.86 |     |   |       |   |
| Increase in pro forma net tangible book value per share attributable to this offering         |     | $ | 0.98 |     |   |       |   |
| As adjusted pro forma net tangible book value per share, after giving effect to this offering |     |   |      |     | $ |  4.84 |   |
| Dilution per share to new investors in this offering                                          |     |   |      |     | $ | (0.44 | ) |

The shares sold in this offering, if any, will
be sold from time to time at various prices. An increase of $1.00 per share in the price at which the shares are sold from the assumed
offering price of $5.28 per share shown in the table above, assuming all of our common stock in the aggregate amount of $1,750,000 is
sold at that price, would increase our adjusted pro forma net tangible book value per share after the offering to $4.98 per share and
would increase the dilution in pro forma net tangible book value per share to new investors in this offering to $1.30 per share, after
deducting commissions and estimated aggregate offering expenses payable by us. A decrease of $1.00 per share in the price at which the
shares are sold from the assumed offering price of $5.28 per share shown in the table above, assuming all of our common stock in the aggregate
amount of $1,750,000 is sold at that price, would decrease our adjusted pro forma net tangible book value per share after the offering
to $4.64 per share and would result in accretion in pro forma net tangible book value per share to new investors in this offering to $0.36
per share, after deducting commissions and estimated aggregate offering expenses payable by us. This information is supplied for illustrative
purposes only, and will adjust based on the actual offering prices, the actual number of shares that we offer and sell in this offering
and other terms of each sale of shares in this offering.

The number of shares of our common stock to be
outstanding after this offer is based on 752,390 shares of common stock outstanding as of June 30, 2025 and excludes the following:

| ● | 744,340 shares of common stock and/or Prefunded Warrants issued in the Private Placement; |

| ● |