Company: PSTV
Filing Date: 2025-06-20
Form Type: S-1/A
Source: 0001193125-25-142935
Chunk: 23

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-06-20
Form: S-1/A
Chunk 23
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 the purchase price in the adjacent column. The numerator is based on the number of shares issuable under the Purchase 
 Agreement at the corresponding assumed purchase price set forth in the adjacent column, without giving effect to the Beneficial Ownership Cap or the Exchange Cap.                                                                                 |

| (3) | The closing sale price per share of our common stock on June 16, 2025. |

13

USE OF PROCEEDS

This prospectus relates to shares of our common stock that may be offered and sold from time to time by Lincoln Park. We will receive no
proceeds from the sale of shares of common stock by Lincoln Park in this offering. We may receive up to $50.0 million in aggregate gross proceeds under the Purchase Agreement, of which $50.0 million remains to be purchased (initially
$25 million and if the full $25 million is purchased, then immediately and automatically up to an additional $25 million aggregate gross proceeds), from any sales we make to Lincoln Park pursuant to the Purchase Agreement. Assuming a
purchase price of $0.31 (which represents the closing price of our common stock on June 16, 2025), the purchase by Lincoln Park of the entire 17,000,000 shares being registered for resale hereunder, which we have the right but not the obligation to
sell to Lincoln Park, would result in gross proceeds to us of approximately $5.3 million, and we estimate approximately $5.2 million of net proceeds, after estimated fees and expenses. See “Plan of Distribution” elsewhere in this
prospectus for more information.

On June 17, 2025, we entered into a letter agreement (the “Side Letter”) with certain holders
of our warrants issued on March 4, 2025. Pursuant to the Side Letter, among other things, such holders agreed to return the shares and pre-funded warrants issued to them on March 4, 2025 and we agreed to repay the holders holding such securities
115% of the value of such securities, using 90% of the proceeds from any capital raised by us subsequent to July 1, 2025 (the “Make-Whole Repayment”). The total amount of the repayment is approximately $17.3 million.

We expect to use any proceeds that we receive under the Purchase Agreement for working capital and general corporate purposes and, if
required, Make-Whole Repayment. The amounts and timing of these expenditures will depend on a number of factors, such as