secwatch.observer — SEC 8-K summary
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Issuer:     Shuttle Pharmaceuticals Holdings, Inc. (SHPH)
CIK:        0001757499
Form:       8-K
Filed at:   2023-01-12T23:59:59+00:00
Accession:  0001493152-23-001308
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shuttle Pharmaceuticals issues $4.3M convertible note and warrant, receives $4M gross proceeds
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- Issued $4.3M senior secured convertible note to Alto Opportunity Master Fund; gross proceeds $4.0M.
- Warrant to purchase 1,018,079 shares at $2.35/share, exercisable for 4 years, potential additional $2.4M.
- Note amortizes over 26 months, 5% interest; conversion price tied to discounted VWAP formulas.
- Full security interest on all assets and IP; springing deposit account control if default.
- Boustead Securities placement agent received $320,000 cash and a warrant for 71,266 shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1757499/000149315223001308/0001493152-23-001308-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1757499/000149315223001308/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-001308

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer