Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 1164

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7A
Chunk 1164
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During
the year ended December 31, 2023, the Company recorded interest expense of $2.5 million, which included amortization of debt discount
of $2.1 million. During the year ended December 31, 2023, the Company settled $1.9 million of principal and settled $0.3 million of accrued
interest, which settlements were made in the form of 297,625 shares of common stock.

    F-20

Note
6 - Stockholders’ Equity

Common
Stock

During
the year ended December 31, 2024, the Company issued:

    ●
    797,345
    shares of common stock to settle $1.9 million of principal and $0.3 million of interest on a Convertible Note and incurred $0.8 of
    loss on settlement (see Note 5).

    ●
    395,574
    shares of common stock as part of a public offering.

    ●
    29,997
    shares of common stock issued for vesting of restricted stock units.

    ●
    729,246
    shares of common stock issued for the exercise of pre-funded warrants.

    ●
    115,716
    shares of common stock issued for the reverse stock split fractional share round up.

During
the year ended December 31, 2023, the Company issued:

    ●
    297,625
    shares of common stock to settle $1.9 million of principal and $0.3 million of interest on a Convertible Note and incurred $0.5 million
    of loss on settlement.

    ●
    10,650
    shares of common stock issued for vesting of restricted stock units.

October
2024 Equity Financing

In
July 2024, the Company entered into an agreement with A.G.P./Alliance Global Partners (“AGP”), as the exclusive underwriter,
placement agent, or advisor in a public or private offering of up to $10,000,000 of the Company’s securities. Under the agreement,
AGP was paid a $50,000 retainer fee.

On
October 31, 2024, AGP served as lead underwriter along with Boustead as co-underwriter for the Company to consummate a public offering
(the “Public Offering”) of an aggregate of (i) 395,574 shares of common stock (the “Common Stock”) and 2,555