Company: NDRA
Filing Date: 2025-07-09
Form Type: S-1
Source: 0001654954-25-007870
Chunk: 34

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-07-09
Form: S-1
Chunk 34
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 unsecured creditor of such custodians, inhibiting our ability to exercise ownership rights with respect to such cryptocurrencies and this may ultimately result in the loss of the value related to some or all of such assets. A series of recent high-profile bankruptcies, closures, liquidations, regulatory enforcement actions and other events relating to companies operating in the digital asset industry, the closure or liquidation of certain financial institutions that provided lending and other services to the digital assets industry, and the filing and subsequent settlement of a civil fraud lawsuit have highlighted the counterparty risks applicable to owning and transacting in digital assets. These bankruptcies, closures, liquidations and other events have likely negatively impacted the adoption rate and use of cryptocurrencies. Additional bankruptcies, closures, liquidations, regulatory enforcement actions or other events involving participants in the digital assets industry in the future may further negatively impact the adoption rate, price, and use of cryptocurrencies, limit the availability to us of financing collateralized by such assets, or create or expose additional counterparty risks. Any loss associated with such insolvency proceedings is unlikely to be covered by any insurance coverage we maintain related to our cryptocurrencies. Even if we are able to prevent our cryptocurrencies from being considered the property of a custodian’s bankruptcy estate as part of an insolvency proceeding, it is possible that we would still be delayed or may otherwise experience difficulty in accessing our cryptocurrencies held by the affected custodian during the pendency of the insolvency proceedings. Any such outcome could have a material adverse effect on our financial condition and the market price of our listed securities.

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<div align='center'>USE OF PROCEEDS</div>

We estimate that the net proceeds to us from the issuance and the sale of the securities in this offering will be approximately $121.4 million (or approximately $140.0 million if the underwriter exercises in full its over-allotment option), in each case after deducting the underwriting discount and estimated offering expenses payable by us, based on the assumed public offering price of $8.30 per share, the last reported sale price of our common stock on the Nasdaq Capital Market on July 8, 2025.

We intend to use approximately $115.3 million of the net proceeds from this offering to establish the Company’s cryptocurrency treasury operations and the accumulation of cryptocurrency.

We intend to use the remaining portion of the net proceeds, which shall equal the greater of $5.0 million and 5.0% of the gross proceeds of the offering, for research and product development,