secwatch.observer — SEC 8-K summary
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Issuer:     Shuttle Pharmaceuticals Holdings, Inc. (SHPH)
CIK:        0001757499
Form:       8-K
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0001493152-24-005970
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shuttle Pharma to raise up to $4.5M via rights offering with SRO LLC backstop of $2.25M
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- Rights offering of up to $4.5M units: 1 share SHPH + 1 warrant ($2.35 strike) + equity stake in Shuttle Diagnostics.
- SRO LLC (affiliate of Boustead Securities CEO) commits $2.25M anchor purchase and backstop for unsold units up to additional $2.25M.
- Unit price at 90% of 5-day VWAP; proceeds to fund diagnostics lab for clinical trials toward FDA device approval.
- Boustead Securities receives $112,500 commitment fee, 8% commission on proceeds, plus $40,000 expenses.
- Rights offering contingent on SEC registration statement filing (Form S-1) and effectiveness; timing uncertain.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1757499/000149315224005970/0001493152-24-005970-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1757499/000149315224005970/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-005970

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