Company: SHPH
Filing Date: 2025-03-13
Form Type: 424B3
Source: 0001493152-25-010109
Chunk: 18

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-03-13
Form: 424B3
Chunk 18
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5-day VWAP immediately prior to Closing or (ii) the price of any offering entered into by the Company during the term of the notes. The
Company has the option to prepay the notes at any time for 107% of total outstanding balance and any outstanding principal will be paid
in conversion of shares of common stock at the end of the term, subject to the Company’s exercise of the optional prepayment right.
Any accrued interest will be repaid quarterly in cash. The Company also issued warrants to the lenders to purchase an aggregate 240,917
shares of common stock, exercisable at $1.40 per share, with such warrants expiring five years from issuance. In addition, the Company’s
Chief Executive Officer, Dr. Anatoly Dritschilo, invested a total of $237,500 in this financing round, in exchange for a $250,000 convertible
note.

On October 21, 2024, the Company issued an additional
$231,579 in senior secured convertible notes due in October 2025, with substantially similar terms as the October 14, 2024, issuance.
The notes include a 5% original issue discount and the Company received $220,000 in proceeds. The Company also issued warrants to the
lenders to purchase an aggregate 88,544 shares of common stock, exercisable at $1.49 per share, with such warrants expiring five years
from issuance. Upon completing this issuance, the Company closed the senior secured convertible note offering after receiving a total
of $790,000 in proceeds.

On February 28, 2025, the Company entered into a Revolving Loan Agreement (the “Revolving Loan Agreement”) with Bowery Consulting Group Inc. (an entity for which Adam Chambers serves as a Principal) (the “Lender”). Pursuant to and under the terms of the Revolving Loan Agreement, the Company issued to the Lender a revolving note dated February 28, 2025, in the principal amount of $2,000,000 (the “Revolving Note” and such amount, the “Maximum Outstanding Amount”), which the Company may draw upon at its discretion from time to time (the “Financing”). Any drawdown on the Revolving Note bears interest at the rate of 18% per annum calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods, and shall accrue daily commencing on the date of issuance until paid in full.