Company: LBRX
Filing Date: 2025-07-23
Form Type: DRS/A
Source: 0000950123-25-006557
Chunk: 306

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-07-23
Form: DRS/A
Chunk 306
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31, 2024, Class B Warrants to purchase up to 882,948 shares of our
common stock remained unexercised. The Class B Warrants

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include a cashless exercise feature allowing the holder to receive shares underlying the applicable Class B Warrant in an amount reduced by the aggregate amount of the exercise price that
would have been payable upon exercise of the applicable Class B Warrant for such shares. Each Class B Warrant became exercisable in May 2022 and will remain exercisable until the 10
anniversary from its issuance date. The Class B Warrants include anti-dilution protection provisions, subject to certain exceptions, relating to subsequent sales of shares of our common stock at an issuance price per share that is less than the
then-effective exercise price of the Class B Warrants. The warrant holder is not a stockholder and has none of the rights of a stockholder until the warrant is exercised and the shares of common stock are issued upon exercise.

Series B-1Warrants

In May 2022, we issued warrants to certain investors to purchase 103,915 shares of our common stock at an exercise price per share of $3.75,
subject to adjustment as set forth in the warrant, or the Series B-1 Warrants. In August 2023, in conjunction with the Series C financing, we modified the outstanding Series
B-1 Warrants, reducing the exercise price to $0.01. As of December 31, 2024, Series B-1 Warrants to purchase up to 71,761 shares of our common stock remained
unexercised. Series B-1 Warrants include a cashless exercise feature allowing the holder to receive shares underlying the applicable Series B-1 Warrant in an amount
reduced by the aggregate amount of the exercise price that would have been payable upon exercise of the applicable Series B-1 Warrant for such shares. Each Series B-1
Warrant is exercisable until its expiration in May 2027. The Series B-1 Warrants include anti-dilution protection provisions, subject to certain exceptions, relating to subsequent sales of shares of our common
stock at an issuance price per share that is less than the then-effective exercise price of the Series B-1 Warrants. The warrant holder is not a stockholder and has none of the rights of a stockholder until
the warrant is exercised and the shares of common stock are issued upon exercise.

Maxim Warrants