Company: JUNS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023603
Chunk: 20

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 20
---
tranche is expected upon registration effectiveness and receipt of stockholder approval, against a $2.0 million note (7% OID). The notes
bear interest at 8% (increasing to 18% upon default), mature on October 24, 2026, and are convertible at $1.50 per share, subject to
proportional anti-dilution and price-protection adjustments (not below a contractual floor). Beginning January 7, 2026, and monthly thereafter,
the Company must repay one-tenth (1/10) of the then-outstanding principal plus accrued interest (a 5% premium applies to cash repayments).
Installments may be satisfied via SEPA advances without the premium, and SEPA proceeds must be applied first to repay the notes until
they are repaid in full.

The
Company paid a $25,000 structuring fee and issued 131,909 commitment shares with an aggregate value of $200,000. It also engaged Revere
Securities LLC as finder, for which it will pay a cash fee equal to 8% of pre-paid advances and $18,000 per month for 12 months, with
the aggregate monthly fees payable upon the Company raising at least $5.0 million in additional financing. While the notes are outstanding,
the Company is prohibited from third-party variable-rate transactions, and Yorkville has agreed to no short sales.

The
funded note will be recorded net of OID and finder’s fees as a debt discount amortized to interest. All embedded features are being
evaluated under ASC 815. The commitment shares and structuring fee are expected to be deferred offering costs of future SEPA issuances.
As of the date of this filing, the Company had received $3.72 million, issued the $4.0 million note, and no SEPA share sales occurred.

23

ITEM
2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The
following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited
condensed financial statements and related notes included in this Quarterly Report on Form 10-Q and the audited financial information
and related notes included in our Annual Report on Form 10-K.

Unless the context otherwise requires references to, “JNS,”
“we,” “us,” “our,” or the “Company” refers to Jupiter Neurosciences, Inc.

Business
Overview

Jupiter