Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 639

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 2
Chunk 639
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 for vesting of restricted stock units.

October
2024 Equity Financing

In
July 2024, the Company entered into an agreement with A.G.P./Alliance Global Partners (“AGP”), as the exclusive underwriter,
placement agent, or advisor in a public or private offering of up to $10,000,000 of the Company’s securities. Under the agreement,
AGP was paid a $50,000 retainer fee.

On
October 31, 2024, AGP served as lead underwriter along with Boustead as co-underwriter for the Company to consummate a public offering
(the “Public Offering”) of an aggregate of (i) 395,574 shares of common stock (the “Common Stock”) and 2,555,246
pre-funded warrants to purchase up to 2,555,246 shares of common stock (the “Pre-Funded Warrants”), and (ii) 2,950,820 common
stock purchase warrants to purchase up to 2,950,820 shares of common stock (the “Common Warrants”). Each share of common
stock, or a pre-funded warrant in lieu thereof, was sold together with an accompanying warrant to purchase one share of common stock.

The
public offering price for each share of Common Stock and one accompanying Common Warrant was $1.525. The public offering price of each
Pre-Funded Warrant and one accompanying Common Warrant was $1.524, which equals the price at which one share of Common Stock and accompanying
Common Warrant was sold to the public in this offering, minus $0.001. The exercise price of each Pre-Funded Warrant is $0.001 per share, until exercised.
Each Common Warrant offered in the offering is exercisable for one share of Common Stock and has an initial exercise price equal to $1.40, over a five-year term.
The Company received aggregate gross proceeds from the offering of approximately $4.5 million, before deducting placement agents’
fees and other offering expenses, of $0.8 million.

    F-21

Both
the Pre-Funded Warrants and the Common Warrants contain standard adjustments to the exercise price, including for stock splits, stock
dividends and pro rata distributions and contain customary terms regarding the treatment of such Pre-Funded Warrants or Common Warrants
in the event of a fundamental transaction, which include but are not limited to a merger or consolidation involving the Company, a sale