8-K
filed February 28, 2025, 6:59 PM ET
ticker SHPH
CIK 0001757499
debt
confidence high
sentiment negative
materiality 0.70
Shuttle Pharmaceuticals Holdings, Inc. (SHPH): debt financing — Shuttle Pharmaceuticals enters $2M revolving loan at 18%, replaces four directors with lender nominees
Shuttle Pharmaceuticals Holdings, Inc.
- Revolving loan up to $2M from Bowery Consulting Group; 18% annual interest, 1-year maturity.
- Proceeds for general corporate purposes, including financing a potential $6M public offering.
- Four directors (Milton Brown, Bette Jacobs, Chris Senanayake, Joshua Schafer) resigned; three lender nominees appointed.
- Events of default allow acceleration at 120% of outstanding principal plus interest and costs.
- Financial advisor WestPark Capital received $20K fee and 4% fee on each draw.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Shuttle Pharmaceuticals Holdings, Inc. incurred revolving credit of up to $2,000,000 with certain lender identified on the signature page thereto at 18% per annum maturing first anniversary of the Closing Date.
- Instrument
- revolving credit
- Principal
- up to $2,000,000
- Counterparty
- certain lender identified on the signature page thereto
- Rate
- 18% per annum
- Maturity
- first anniversary of the Closing Date
- Event
- incurrence
Exact text from the filing
On February 28, 2025, Shuttle Pharmaceuticals Holdings, Inc. (the “Company”) entered into a Revolving Loan Agreement (the “Revolving Loan Agreement”) with certain lender identified on the signature page thereto (the “Lender”). Pursuant to and under the terms of the Revolving Loan Agreement, the Company issued to the Lender a revolving note dated February 28, 2025 in the principal amount of up to $2,000,000
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Joseph Tung was appointed as Director at Shuttle Pharmaceuticals Holdings, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Company’s Board of Directors appointed George Scorsis, Joseph Tung, and Oleh Nabyt as directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Oleh Nabyt was appointed as Director at Shuttle Pharmaceuticals Holdings, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Company’s Board of Directors appointed George Scorsis, Joseph Tung, and Oleh Nabyt as directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Chris Senanayake resigned as Director at Shuttle Pharmaceuticals Holdings, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Milton Brown, Bette Jacobs, Chris Senanayake and Joshua Shafer resigned as directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
George Scorsis was appointed as Director at Shuttle Pharmaceuticals Holdings, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Company’s Board of Directors appointed George Scorsis, Joseph Tung, and Oleh Nabyt as directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Milton Brown resigned as Director at Shuttle Pharmaceuticals Holdings, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Milton Brown, Bette Jacobs, Chris Senanayake and Joshua Shafer resigned as directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Joshua Shafer resigned as Director at Shuttle Pharmaceuticals Holdings, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Milton Brown, Bette Jacobs, Chris Senanayake and Joshua Shafer resigned as directors of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Bette Jacobs resigned as Director at Shuttle Pharmaceuticals Holdings, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
each of Milton Brown, Bette Jacobs, Chris Senanayake and Joshua Shafer resigned as directors of the Company
View on SEC.gov
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