SEC Contract Filing

Filing Date: 2024-02-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>4
<FILENAME>tm246503d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #0D0D0D"><B>HEPION PHARMACEUTICALS,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #0D0D0D">399 Thornall Street, First Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #0D0D0D">Edison, NJ 08837</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #0D0D0D">February&nbsp;15, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #0D0D0D">To the Holder of Series&nbsp;B
Common Stock Purchase Warrants of Hepion Pharmaceuticals,&nbsp;Inc. Issued on October&nbsp;3, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
 <TR STYLE="vertical-align: top">
 <TD STYLE="font-size: 10pt; text-align: justify; width: 0.5in"><FONT STYLE="font-size: 10pt; color: #0D0D0D">Re:</FONT></TD>
 <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt; color: #0D0D0D"><U>Warrant Inducement Agreement</U></FONT></TD></TR>
 </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #0D0D0D">Dear Holder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #0D0D0D">HEPION PHARMACEUTICALS,&nbsp;INC.
(the &ldquo;<U>Company</U>&rdquo;) is pleased to offer (this &ldquo;<U>Offer</U>&rdquo;) to you (&ldquo;<U>Holder</U>&rdquo;, &ldquo;<U>you</U>&rdquo;
or similar terminology) the opportunity to receive new common stock purchase warrants (the &ldquo;<U>New Warrants</U>&rdquo;) to purchase
up an aggregate of 1,470,590 shares (collectively, the &ldquo;<U>New Warrant Shares</U>&rdquo;) of common stock, par value $0.0001 per
share, of the Company (the &ldquo;<U>Common Stock</U>&rdquo;), equal to 150% of the 980,393 shares of Common Stock (such shares, collectively,
the &ldquo;<U>Warrant Shares</U>&rdquo;) issuable pursuant to the exercise of that certain Series&nbsp;B Common Stock Purchase Warrant,
currently held by you and issued to you on October&nbsp;3, 2023 (the &ldquo;<U>Existing Warrant</U>&rdquo;), as more particularly set
forth on the signature page&nbsp;hereto, in consideration for exercising for cash all of the Existing Warrant (which currently has an
exercise price per share of $4.85) at an exercise price per share of $2.10 (with such exercise price being established for purposes of
compliance with Nasdaq Stock Market listing rules) (the &ldquo;<U>New Exercise Price</U>&rdquo;). The resale of Warrant Shares has been
registered pursuant to a currently effective Registration Statement on Form&nbsp;S-1 (File No.&nbsp;333-275231). Capitalized terms not
otherwise defined herein shall have the meanings set forth in the New Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #0D0D0D">The Company
is making you this offer during the period from the date of this Offer set forth above and until 7:30 am, Eastern Time, on&nbsp;February&nbsp;16,
2024&nbsp;(the &ldquo;<U>Exercise Period</U>&rdquo;). Exercise of the Existing Warrant shall be made in whole at any time or times during
the Exercise Period by delivery to the Company of a duly executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment)
of the Notice of Exercise attached to the Existing Warrant; provided, that the exercise of the Existing Warrant will be accompanied by
payment in full of the New Exercise Price to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #0D0D0D">In consideration
for exercising the Existing Warrant held by Holder pursuant to the terms of this Offer (the &ldquo;<U>Warrant Exercise</U>&rdquo;), the
Company hereby offers to you or your designees:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; color: #0D0D0D">(a)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #0D0D0D">i.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #0D0D0D">in consideration of exercising the Existing Warrant, the Company will issue
New Warrants pursuant to Section&nbsp;4(a)(2)&nbsp;of the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;),
to purchase up to a number of New Warrant Shares equal to 150% of the number of Warrant Shares issued pursuant to such exercise of the
Existing Warrant, as follows: (1)&nbsp;a Series&nbsp;B-1 New Warrant substantially in the form set forth in <B><U>Exhibit&nbsp;A</U></B>
hereto to purchase up to 735,295 shares of Common Stock, which is equal