Company: PSTV
Filing Date: 2025-06-18
Form Type: S-1
Source: 0001193125-25-142215
Chunk: 9

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-06-18
Form: S-1
Chunk 9
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 constrained by the Nasdaq limit of 19.99% of our outstanding shares that might otherwise apply and will not sell shares in excess of 19.99% of our
outstanding shares as of the date we entered into the Purchase Agreement, until we obtain stockholder approval. We intend to seek stockholder approval to allow issuance of shares of our common stock in excess of such limit. We are not required or
permitted to issue any shares of common stock under the Purchase Agreement if such issuance would breach our obligations under the rules or regulations of The Nasdaq Stock Market. In addition, Lincoln Park will not be required to purchase any shares
of our common stock if such sale would result in Lincoln Park’s beneficial ownership exceeding 4.99% of the then outstanding shares of our common stock. Our inability to access a portion or the full amount available under the Purchase
Agreement, in the absence of any other financing sources, could have a material adverse effect on our business.

The extent we rely on
Lincoln Park as a source of funding will depend on a number of factors, including the prevailing market price of our common stock and the extent to which we are able to secure working capital from other sources. If obtaining sufficient funding from
Lincoln Park were to prove unavailable or prohibitively dilutive, we will need to secure another source of funding in order to satisfy our working capital needs. Even if we sell the remaining $50 million of shares of our common stock remaining
available for sale under the Purchase Agreement to Lincoln Park as of June 17, 2025, we may still need additional capital to finance our future production plans and working capital needs, and we may have to raise funds through the issuance of equity
or debt securities. Assuming a purchase price of $0.31 (which represents the closing price of our common stock on June 16, 2025), and that no Additional Commitment Shares are issued, the purchase by Lincoln Park of the entire 17,000,000 shares being
registered hereunder, that are available for purchase pursuant to the Purchase Agreement would result in gross proceeds to us of only approximately $5.3 million, which would result in a remaining $44.7 million available under the Purchase
Agreement.

Depending on the type and the terms of any financing we pursue, stockholders’ rights and the value of their investment in
our common stock could be reduced. A financing could involve one or more types of securities including common stock, convertible debt or warrants to acquire common stock