UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01. Entry into a Material Definitive Agreement.
On June 20, 2025, Shuttle Pharmaceuticals Holdings, Inc. (the “Company”) entered into a securities purchase agreement with an accredited investor, for the sale by the Company to the investor, in a private placement, of 21,924 shares of common stock and 1,158,953 pre-funded warrants to purchase shares of common stock, at a purchase price of $3.60 per share or $3.599 per pre-funded warrant. The private placement closed on June 24, 2025.
The pre-funded warrants are immediately exercisable, at a nominal exercise price of $0.001, and may be exercised at any time until all of the pre-funded warrants are exercised in full. The pre-funded warrants may not be exercised to the extent such exercise would result in the holder beneficially owning more than 4.99% of the Company’s outstanding common stock.
In connection with the purchase agreement, the Company entered into a registration rights agreement with the investor. Pursuant to the registration rights agreement, the Company will be required to file a registration statement with the Securities and Exchange Commission (the “SEC”) to register for resale the shares of common stock, and the shares issuable upon exercise of the pre-funded warrants issued under the purchase agreement, within 10 days of the closing date, and to have such registration statement declared effective within 90 days of the closing date (or 120 days if the registration statement is reviewed by the SEC). The Company will be obligated to pay certain liquidated damages to the investor if the Company fails to file the resale registration statement, or to have such registration statement declared effective by such dates.
Pursuant to the purchase agreement, the Company and its directors and executive officers agreed, subject to certain exceptions, not to issue or sell shares of common stock, or securities convertible into or exercisable for shares of common stock, for a period commencing on the closing date until the later of (a) sixty days from the closing date or (b) the earlier of (i) 30 days after the effective date of the resale registration statement to be filed under the registration rights agreement or (ii) 120 days from the closing date.
WestPark Capital, Inc. (“WestPark”) acted as the placement agent in connection with the private placement pursuant to an engagement agreement between the Company and WestPark, as amended (as amended, the “Engagement Agreement”). Pursuant to the Engagement Agreement, the Company paid WestPark a fee of 4% of the gross proceeds received by the Company in the private placement. The Company also reimbursed certain expenses of WestPark.
In connection with the foregoing, the Company relied upon the exemption from registration provided by Section 4(a)(2) under the Securities Act of 1933, as amended, for transactions not involving a public offering.
The foregoing descriptions of the purchase agreement, pre-funded warrants, and registration rights agreement are subject to, and qualified in their entirety by, the full text of such documents, which are filed as exhibits to this report and are incorporated herein by reference.
Item 3.02 Unregistered Sales of Equity Securities.
The disclosure under Item 1.01 above is incorporated herein by reference.
Item 8.01 Other Events.
On June 20, 2025, the Company issued a press release regarding the pricing of the private placement. A copy of the press release is filed as an exhibit to this report. On June 24, 2025, the Company issued a press release regrading the closing of the private placement. A copy of the press release is filed as an exhibit to this report.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. | Exhibit Description | |
| 10.1 | Securities Purchase Agreement, dated June 20, 2025 | |
| 10.2 | Registration Rights Agreement, dated June 20, 2025 | |
| 10.3 | Form of Pre-Funded Warrant | |
| 99.1 | Press Release, dated June 20, 2025 | |
| 99.2 | Press Release, dated June 24, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SHUTTLE PHARMACEUTICALS HOLDINGS, INC. | ||
| Dated: June 25, 2025 | ||
| By: | /s/ Christopher Cooper | |
| Name: | Christopher Cooper | |
| Title: | Interim Chief Executive Officer | |