Company: NDRA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110887
Chunk: 19

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 registered offering,
the Company issued pre-funded warrants to purchase up to an aggregate of 31,666 shares of common stock (the “pre-funded warrants”),
together with Series A Warrants to purchase up to an aggregate of 178,255 shares of common stock and Series B Warrants (together with
the Series A Warrants, the “Series Warrants”) to purchase up to an aggregate of 178,255 shares of common stock.

Additionally, the Series B Warrants contain an
alternative cashless exercise option whereby the holder of a Series B Warrant has the right to receive an aggregate number of shares equal
to the product of (x) the aggregate number of shares of common stock that would be issuable upon a cashless exercise of the Series B Warrant
using $1.75 (after adjustment) as the exercise price for that purpose and (y) 3.0.

In connection with the Offering, the Company also
issued placement agent warrants (“Placement Agent Warrants” and, together with the pre-funded warrants and the Series Warrants,
the “Warrants”) to purchase up to 1,758 shares of common stock. The purchase price of each share of common stock and accompanying
Series Warrants was $227.50 and the purchase price of each pre-funded warrant and accompanying Series Warrants was $227.325.

Warrant Exercises

On May 2, 2023, the Company conducted a registered
offering in which the Company issued 1,232 warrants to purchase shares of common stock for an exercise price per share equal to $2,450.
The warrants expire May 2, 2028. In December 2023, the Board approved a temporary reduction of the exercise price per share from $2,450
to $1,225. The Company also issued to the underwriter and its designees warrants exercisable for an aggregate of 172 shares of common
stock for an exercise price per share equal to $2,625. The warrants expire November 2, 2026. During the nine months ended September 30,
2025, no warrants were exercised.

The following table summarizes all warrant activity
of the Company for the nine months ended September 30, 2025:

         Weighted   Weighted          Average   Average      Number of   Exercise   Contractual      Warrants   Price   Term (Years)   Balance outstanding at December 31, 2024