# EDGAR Filing Document

**Accession Number:** 0001937993
**File Stem:** 0001213900-23-004535
**Filing Date:** 2023-1
**Character Count:** 33452
**Document Hash:** 38b1b4d200efae0da210bd9420395ba9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-004535.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001213900-23-004535

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230123

**EFFECTIVENESS DATE**: 20230124

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cadrenal Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0001937993
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 880860746
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269372
- **FILM NUMBER:** 23545632

**BUSINESS ADDRESS:**
- **STREET 1:** 822 A1A NORTH
- **STREET 2:** SUITE 300
- **CITY:** PONTE VEDRA
- **STATE:** FL
- **ZIP:** 32082
- **BUSINESS PHONE:** 904-300-0701

**MAIL ADDRESS:**
- **STREET 1:** 822 A1A NORTH
- **STREET 2:** SUITE 300
- **CITY:** PONTE VEDRA
- **STATE:** FL
- **ZIP:** 32082

**As filed with the Securities and Exchange Commission on January 23, 2022**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

**CADRENAL THERAPEUTICS, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **88-0860746** |
| (State or other jurisdiction of<br> incorporation or organization) | (I.R.S. Employer<br> Identification No.) |

---

**822 A1A North, Suite 306**

**Ponte Vedra, Florida 32082**

(Address of Principal Executive Offices and Zip Code)

**CADRENAL THERAPEUTICS, INC. 2022 SUCCSESOR EQUITY INCENTIVE PLAN**

**CADRENAL THERAPEUTICS, INC. 2022 EQUITY INCENTIVE PLAN**

(Full title of the plans)

**Quang Pham<br> Chief Executive Officer<br> Cadrenal Therapeutics, Inc.<br> 822 A1A North, Suite 306**

**Ponte Vedra, Florida 32082<br> (904) 300-0701**

(Name, address, and telephone number, including area code, of agent for service)

***Please send copies of all communications to:***

**Leslie Marlow, Esq.**

**Blank Rome LLP**

**1271 Avenue of the Americas**

**New York, New York 10020**

**(212) 885-5000**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated Filer ☐ <br> Non-accelerated filer ☒ Smaller Reporting Company ☒ <br> Emerging Growth Company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**INTRODUCTION**

This Registration Statement on Form S-8 is filed by Cadrenal Therapeutics, Inc. (the "Company," "we," "us," or "our") relating to 3,010,000 shares of the Company's common stock, par value $0.001 per share (the "Common Stock"), issuable to employees, officers, directors, consultants and advisors of the Company under the Company's Initial Plan and Successor Plan (collectively, the "Plans").

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

As permitted by Rule 428 under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement omits the information specified in Part I of Form S-8. The documents containing the information specified in Part I will be delivered to the participants of the Plans as required by Rule 428(b)(1). Such documents are not being filed with the Securities and Exchange Commission (the "Commission") as part of this registration statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents and the documents incorporated by reference in the registration statement pursuant to Item 3 of Part II of this Form, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**PART II**

**INFORMATION REQUIRED IN REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference.**

The Company incorporates by reference in this Registration Statement on Form S-8 the following documents and information filed by the Company with the Commission:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The
 prospectus filed by the registrant with the SEC pursuant to Rule 424(b) under the
 Securities Act, on January 23, 2023, relating to the Registration Statement on Form S-1,
 as amended (File No. [333-267562](http://www.sec.gov/Archives/edgar/data/1937993/000121390023002924/fs12023a6_cadrenal.htm#T9923)), which
 contains the registrant's audited financial statements as of June 30, 2022 and for
 the period from January 25, 2022 (inception) to June 30, 2022; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The description of the
 registrant's common stock contained in the registrant's Registration Statement on Form
 8-A (File No. [001-41596](http://www.sec.gov/Archives/edgar/data/1937993/000121390023003079/ea171784-8a12b_cadrenalthera.htm)), filed by the registrant with the SEC under
 Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), on January 17, 2023,
 including any amendments or reports filed for the purpose of updating such description.

All documents that the registrant subsequently files pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the date of this Registration Statement (except for any information deemed furnished to, rather than filed with, the SEC) and prior to the filing of a post-effective amendment to this Registration Statement which indicates that all of the shares of common stock offered have been sold or which deregisters all of such shares then remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be a part hereof from the date of the filing of such documents.

Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

Under no circumstances will any information filed under current Items 2.02 or 7.01 of Form 8-K be deemed incorporated herein by reference unless such Form 8-K expressly provides to the contrary.

**Item 4. Description of Securities.**

Not applicable.

**Item 5. Interests of Named Experts and Counsel.**

Not applicable.

**Item 6. Indemnification of Directors and Officers.**

As permitted by Section 102 of the Delaware General Corporation Law, we have adopted provisions in our amended and restated certificate of incorporation that will be effective upon completion of this offering that eliminate the personal liability of our directors and officers for a breach of certain fiduciary duties as a director or officer, as applicable, except to the extent such an exemption from liability is not permitted under the Delaware General Corporation Law. An officer may not be exculpated for any action brought by or in the right of the corporation. A director may not be exculpated for improper distributions to stockholders. Further, pursuant to Delaware law a director or officer may not be exculpated for:

● any breach of his or her duty of loyalty to us or our stockholders;

● any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law; and

● any transaction from which the director or officer derived an improper personal benefit.

These limitations of liability do not affect the availability of equitable remedies such as injunctive relief or rescission.

As permitted by Section 145 of the Delaware General Corporation Law, our amended and restated bylaws that will be in effect upon completion of this offering provide that:

● we shall indemnify our directors and executive officers to the fullest extent permitted by the Delaware General Corporation Law, subject to limited exceptions, and that we may indemnify other officers, employees or other agents;

● we shall advance expenses to our directors and executive officers in connection with a legal proceeding to the fullest extent permitted by the Delaware General Corporation Law, subject to limited exceptions; and

● the rights provided in our bylaws are not exclusive.

Our amended and restated bylaws provide that we will indemnify each person who was or is a party, or is or was threatened to be made a party, to any threatened, pending or completed action, suit or proceeding (other than an action by or in the right of us) by reason of the fact that he or she is or was, or has agreed to become, a director or officer, or is or was serving, or has agreed to serve, at our request as a director, officer, partner, employee or trustee of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise (all such persons being referred to as an "Indemnitee"), or by reason of any action alleged to have been taken or omitted in such capacity, against all expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding and any appeal therefrom, if such Indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, our best interests, and, with respect to any criminal action or proceeding, he or she had no reasonable cause to believe his or her conduct was unlawful. Our amended and restated bylaws provide that we will indemnify any Indemnitee who was or is a party to an action or suit by or in the right of us to procure a judgment in our favor by reason of the fact that the Indemnitee is or was, or has agreed to become, a director or officer, or is or was serving, or has agreed to serve, at our request as a director, officer, partner, employee or trustee of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action alleged to have been taken or omitted in such capacity, against all expenses (including attorneys' fees) and, to the extent permitted by law, amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding, and any appeal therefrom, if the Indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, our best interests, except that no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to us, unless a court determines that, despite such adjudication but in view of all of the circumstances, he or she is entitled to indemnification of such expenses. Notwithstanding the foregoing, to the extent that any Indemnitee has been successful, on the merits or otherwise, he or she will be indemnified by us against all expenses (including attorneys' fees) actually and reasonably incurred in connection therewith. Expenses must be advanced to an Indemnitee under certain circumstances.

The above discussion of our amended and restated certificate of incorporation, amended and restated bylaws and the Delaware General Corporation Law is not intended to be exhaustive and is respectively qualified in its entirety by such amended and restated certificate of incorporation, amended and restated bylaws and the applicable Delaware General Corporation Law.

As permitted by the Delaware General Corporation Law, the registrant has entered into separate indemnification agreements with each of its current executive officers and intends to enter into separate indemnification agreements with each of the registrant's directors and certain of the registrant's officers which require the registrant, among other things, to indemnify them against certain liabilities which may arise by reason of their status as directors, officers or certain other employees.

The registrant expects to obtain and maintain insurance policies under which its directors and officers are insured, within the limits and subject to the limitations of those policies, against certain expenses in connection with the defense of, and certain liabilities which might be imposed as a result of, actions, suits or proceedings to which they are parties by reason of being or having been directors or officers. The coverage provided by these policies may apply whether or not the registrant would have the power to indemnify such person against such liability under the provisions of the Delaware General Corporation Law.

These indemnification provisions and the indemnification agreements that we have entered into, or intend to enter into, with the registrant's officers and directors may be sufficiently broad to permit indemnification of the registrant's officers and directors for liabilities (including reimbursement of expenses incurred) arising under the Securities Act .

In any underwriting agreement we enter into in connection with the sale of common stock being registered hereby, the underwriters will agree to indemnify, under certain conditions, us, our directors, our officers and persons who control us within the meaning of the Securities Act against certain liabilities.

**Item 7. Exemption from Registration Claimed.**

Not applicable.

**Item 8. Exhibits.**

---

| | |
|:---|:---|
| **Exhibit** | **Description** |
| 3.1 | [Amended and Restated Certificate of Incorporation of Cadrenal Therapeutics, Inc. (Incorporated by reference to Exhibit 3.1 to the registrant's Registration Statement on Form S-1, filed on December 6, 2022, File No. 333-267562)](http://www.sec.gov/Archives/edgar/data/1937993/000121390022077850/fs12022a3ex3-1_cadrenal.htm) |
| 3.2 | [Amended and Restated Bylaws of Cadrenal Therapeutics, Inc. (Incorporated by reference to Exhibit 3.2 to the registrant's Registration Statement on Form S-1, filed on December 6, 2022, File No. 333-267562)](http://www.sec.gov/Archives/edgar/data/1937993/000121390022077850/fs12022a3ex3-2_cadrenal.htm) |
| 5.1\* | [Opinion of Blank Rome LLP](ea172057ex5-1_cadrenal.htm) |
| 23.1\* | [Consent of WithumSmith + Brown, PC, Independent Registered Public Accounting Firm](ea172057ex23-1_cadrenal.htm) |
| 23.2\* | [Consent of Blank Rome LLP (contained in Exhibit 5.1)](ea172057ex5-1_cadrenal.htm) |
| 24.1\* | [Power of Attorney (included on signature page hereto)](#a_001) |
| 99.1 | [Cadrenal Therapeutics, Inc. 2022 Equity Incentive Plan and form of Incentive Stock Option Agreement, Non-Qualified Stock Option Agreement for Officers and Other Employees, Non-Qualified Stock Option Agreement for Directors and Consultants, Restricted Stock Agreement, and Restricted Stock Unit Agreement (Incorporated by reference to Exhibit 10.1 to the registrant's Registration Statement on Form S-1, filed on September 22, 2022, File No. 333-267562)](http://www.sec.gov/Archives/edgar/data/1937993/000121390022058071/fs12022ex10-1_cadrenal.htm) |
| 99.2 | [Cadrenal Therapeutics, Inc. 2022 Amended and Restated Equity Incentive Plan (Incorporated by reference to Exhibit 10.14 to the registrant's Registration Statement on Form S-1/A, filed on October 17, 2022, File No. 333-267562)](http://www.sec.gov/Archives/edgar/data/1937993/000121390022064170/fs12022a2ex10-14_cadrenal.htm) |
| 99.3 | [Form of Stock Option Grant Notice, Stock Option Agreement and Notice of Exercise under the 2022 Amended and Restated Equity Incentive Plan (Incorporated by reference to Exhibit 10.15 to the registrant's Registration Statement on Form S-1/A, filed on October 17, 2022, File No. 333-267562)](http://www.sec.gov/Archives/edgar/data/1937993/000121390022064170/fs12022a2ex10-15_cadrenal.htm) |
| 99.4 | [Cadrenal Therapeutics, Inc. 2022 Successor Equity Incentive Plan (Incorporated by reference to Exhibit 10.16 to the registrant's Registration Statement on Form S-1/A, filed on October 17, 2022, File No. 333-267562)](http://www.sec.gov/Archives/edgar/data/1937993/000121390022064170/fs12022a2ex10-16_cadrenal.htm) |
| 99.5 | [Form of Stock Option Grant Notice and Stock Option Agreement and Notice of Exercise under the 2022 Successor Equity Incentive Plan (Incorporated by reference to Exhibit 10.17 to the registrant's Registration Statement on Form S-1/A, filed on October 17, 2022, File No. 333-267562)](http://www.sec.gov/Archives/edgar/data/1937993/000121390022064170/fs12022a2ex10-17_cadrenal.htm) |
| 99.6 | [Form of Restricted Stock Unit Grant Notice and Restricted Stock Unit Award Agreement under the 2022 Successor Equity Incentive Plan (Incorporated by reference to Exhibit 10.18 to the registrant's Registration Statement on Form S-1/A, filed on October 17, 2022, File No. 333-267562)](http://www.sec.gov/Archives/edgar/data/1937993/000121390022064170/fs12022a2ex10-18_cadrenal.htm) |
| 107\* | [Filing Fee Table](ea172057ex-fee_cadrenal.htm) |

---

\* Filed herewith.

**Item 9. Undertakings.**

(a) The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement; *provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Ponte Vedra, State of Florida, on this 23<sup>rd</sup> day of January, 2023.

---

| | |
|:---|:---|
| **CADRENAL THERAPEUTICS, INC.** | **CADRENAL THERAPEUTICS, INC.** |
| By: | /s/ Quang Pham |
|  | Quang Pham |
|  | Chairman of the Board and Chief Executive Officer |

---

**POWER OF ATTORNEY**

Each person whose signature appears below constitutes and appoints Quang Pham and Matthew Szot his true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement on Form S-8 to be filed by Cadrenal Therapeutics, Inc., and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their substitutes, may lawfully do or cause to be done by virtue hereof.

\*\*\*

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Quang Pham<br> Quang Pham | Chairman of the Board and Chief Executive Officer<br> (Principal Executive Officer) | January 23, 2023 |
| /s/ Matthew Szot<br> Matthew Szot | Chief Financial Officer<br> (Principal Accounting and Financial Officer) | January 23, 2023 |
| /s/ John R. Murphy<br> John R. Murphy | Director | January 23, 2023 |
| /s/ Steven Zelenkofske<br> Steven Zelenkofske | Director | January 23, 2023 |
| /s/ Glynn Wilson<br> Glynn Wilson | Director | January 23, 2023 |

---

## Exhibit 5.1

**Exhibit 5.1**

![](image_001.jpg)

1271 Avenue of the Americas \|New York, NY 10020

blankrome.com

January 23, 2023

Cadrenal Therapeutics, Inc.<br> 822 A1A North, Suite 306<br> Ponte Vedra, Florida 32082

Re: Cadrenal Therapeutics, Inc.<br> Registration Statement on Form S-8

Dear Ladies & Gentlemen:

We refer to the Registration Statement on Form S-8 (the "Registration Statement") filed on the date hereof by Cadrenal Therapeutics, Inc., a Delaware corporation (the "Company"), with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the "Securities Act"), with respect to the registration of up to an aggregate of 3,010,000 shares of the Company's common stock, par value $0.001 per share (the "Shares") as follows: (a) 1,100,000 Shares that may be issued pursuant to outstanding stock option awards under the Cadrenal Therapeutics, Inc. 2022 Amended and Restated Equity Incentive Plan (the "Initial Plan"); and (b) 1,910,000 Shares that may be issued pursuant to the Cadrenal Therapeutics, Inc. 2022 Successor Equity Incentive Plan (the "Successor Plan"), consisting of: (i) 810,000 Shares reserved and available for issuance pursuant to the grant of new awards under the Initial Plan; and (ii) 1,100,000 shares subject to outstanding stock options or other awards granted under the Initial Plan that on or after the Successor Plan becomes effective, terminate or expire prior to exercise or settlement; are not issued because the award is settled in cash; are forfeited because of the failure to vest; or are reacquired or withheld (or not issued) to satisfy a tax withholding obligation or the purchase or exercise price, if any, as such shares become available from time to time.

We have examined originals or certified copies of such corporate records of the Company and other certificates and documents of officials of the Company, public officials and others as we have deemed relevant or appropriate for purposes of this opinion letter. We have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity to authentic original documents of all copies submitted to us as conformed and certified or reproduced copies. We have also assumed that all of the shares eligible for issuance under the Initial Plan or Successor Plan following the date hereof will be issued for not less than par value.

Based upon, and subject to, the foregoing, it is our opinion that the 3,010,000 Shares, when sold and issued in accordance with the provisions of the Initial Plan or the Successor Plan, as applicable, and the Registration Statement and the related prospectus, will be validly issued, fully paid and non-assessable.

Cadrenal Therapeutics, Inc.

January 23, 2023

The opinions in this opinion letter are qualified in their entirety and subject to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1. We express no opinion as to the laws of any jurisdiction other than the General Corporation Law of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2. This opinion is given as of the date hereof and is limited to the matters stated herein, and no opinion is implied or may be inferred beyond the matters expressly stated. We assume herein no obligation, and hereby disclaim any obligation, to make any inquiry after the date hereof or to advise you of any future changes in the foregoing or of any facts or circumstances that may hereafter come to our attention.

We consent to the reference to this firm as your counsel in the Registration Statement and to the filing of this opinion as Exhibit 5.1 to the Registration Statement. In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act and the rules and regulations promulgated thereunder.

---

| |
|:---|
| Very truly yours, |
| /s/ BLANK ROME |
| BLANK ROME LLP |

---

Blank Rome LLP \| blankrome.com

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 of our report dated October 7, 2022, relating to the financial statements of Cadrenal Therapeutics, Inc.'s appearing in the entity's Form S-1/A for the period from January 25, 2022 (inception) to June 30, 2022.

We also consent to the reference to us under the caption "Experts" in the Registration Statement on Form S-8.

WithumSmith+Brown, PC

San Francisco, California

January 23, 2023

## Ex-Filing

**Exhibit 107**

**Calculation of Filing Fee Tables**

**FORM S-8**

(Form Type)

**CADRENAL THERAPEUTICS, INC.**

(Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered and Carry Forward Securities

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Security Type | Security Class Title | Fee Calculation Rule | Amount Registered<sup>(1)</sup> | Proposed Maximum Offering Price Per Unit | Maximum Aggregate Offering Price <sup>(1)(2)</sup> | Fee Rate | Amount of Registration Fee |
|  | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities |
| Fees to Be Paid | Equity | Common Stock, par value $0.001 per share<br>| Rule 457(h) | 1,100,000 shares <sup>(2)</sup> | $0.84<sup>(3)</sup> | $924000 | $0.0001102 | $101.82 |
| Fees to Be Paid | Equity | Common Stock, par value $0.001 per share | Rule 457(c) and Rule 457(h) | 1,910,000 shares <sup>(4)</sup> | $5.30<br><sup>(5)</sup> | $10123000 | $0.0001102 | $1115.56 |
|  |  |  | Total Offering Amounts | Total Offering Amounts |  | $11047000 |  | $1217.38 |
|  |  |  | Total Fee Offsets | Total Fee Offsets |  |  |  |  |
|  |  |  | Net Fee Due | Net Fee Due |  |  |  | $1217.38 |

---

(1) Pursuant to Rule 416 under
the Securities Act of 1933, as amended (the "Securities Act"), this registration statement also registers an indeterminate
number of additional shares that may be issued pursuant to the above-named plans as the result of any future stock dividend, stock split,
recapitalization or any other similar transaction effected without the receipt of consideration which results in an increase in the number
of our outstanding shares of common stock.

(2) Represents 1,100,000 shares of
common stock subject to outstanding stock option awards under the Cadrenal Therapeutics, Inc. 2022 Amended and Restated Equity Incentive
Plan (the "Initial Plan"). All outstanding awards under the Initial Plan will remain outstanding, but no further grants will
be made under the Initial Plan, which plan has been succeeded by the Cadrenal Therapeutics, Inc. 2022 Successor Equity Incentive
Plan (the "Successor Plan"). To the extent outstanding awards under the Initial Plan are forfeited or lapse unexercised,
the shares of common stock subject to such awards will be available for future issuance under the Successor Plan, as more fully set forth
in footnote 4 below.

(3) Estimated solely for the purpose
of calculating the registration fee in accordance with Rule 457(h) of the Securities Act. The Proposed Maximum Offering Price
Per Share is $0.84 per share, which is the weighted average exercise price of outstanding awards granted under the Initial Plan.

(4) Represents 1,910,000 shares of
common stock authorized under the Successor Plan , which number consists of: (a) the 810,000 shares of common stock reserved and
available for issuance pursuant to the grant of new awards under our Initial Plan, and (b) the 1,100,000 shares subject to outstanding
stock options or other awards granted under our Initial Plan that on or after the Successor Plan becomes effective, terminate or expire
prior to exercise or settlement; are not issued because the award is settled in cash; are forfeited because of the failure to vest; or
are reacquired or withheld (or not issued) to satisfy a tax withholding obligation or the purchase or exercise price, if any, as such
shares become available from time to time. To the extent outstanding awards under the Successor Plan are forfeited or lapse unexercised,
the shares of common stock subject to such awards will be available for future issuance under the Successor Plan. The Successor Plan
provides that the maximum number of shares of common stock that may be issued under the Successor Plan will automatically increase on
January 1 of each calendar year commencing on January 1, 2023 and ending on (and including) January 1, 2032, to a number
of shares of common stock equal to 20% of the total number of shares of common stock outstanding on December 31<sup>st</sup> of
the preceding calendar year; provided, however that the board of directors, or the compensation committee, may act prior to January 1<sup>st
</sup>of a given calendar year to provide that the increase for such year will be a lesser number of shares of common stock.

(5) Estimated solely for the purpose of calculating the registration fee in accordance with Rules 457(c) and 457(h) of the Securities Act. The computation is based on $5.30 per share, which is the average high and low prices of the registrant's common stock as reported on the Nasdaq Capital Market on January 20, 2023.