---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-008742"
form_type: "8-K"
ticker: "SHPH"
cik: "0001757499"
company_name: "Shuttle Pharmaceuticals Holdings, Inc."
filed_at: "2025-02-28T23:59:59+00:00"
generated_at: "2026-05-25T23:46:00.666157+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Shuttle Pharmaceuticals enters $2M revolving loan at 18%, replaces four directors with lender nominees

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-25-008742
- form_type: 8-K
- ticker: SHPH
- cik: 0001757499
- company_name: Shuttle Pharmaceuticals Holdings, Inc.
- filed_at: 2025-02-28T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1757499/000149315225008742/0001493152-25-008742-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1757499/000149315225008742/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-008742
- JSON: https://secwatch.observer/filing/0001493152-25-008742.json
- Plain text: https://secwatch.observer/filing/0001493152-25-008742.txt

## Source-grounded claims
- claim_id: 5bbf98153f
  claim: Joseph Tung was appointed as Director at Shuttle Pharmaceuticals Holdings, Inc..
  evidence_excerpt: the Company’s Board of Directors appointed George Scorsis, Joseph Tung, and Oleh Nabyt as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1757499/000149315225008742/0001493152-25-008742-index.htm
- claim_id: 62c756643e
  claim: Oleh Nabyt was appointed as Director at Shuttle Pharmaceuticals Holdings, Inc..
  evidence_excerpt: the Company’s Board of Directors appointed George Scorsis, Joseph Tung, and Oleh Nabyt as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1757499/000149315225008742/0001493152-25-008742-index.htm
- claim_id: 6c407816d7
  claim: Chris Senanayake resigned as Director at Shuttle Pharmaceuticals Holdings, Inc..
  evidence_excerpt: each of Milton Brown, Bette Jacobs, Chris Senanayake and Joshua Shafer resigned as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1757499/000149315225008742/0001493152-25-008742-index.htm
- claim_id: 86e16ed25a
  claim: George Scorsis was appointed as Director at Shuttle Pharmaceuticals Holdings, Inc..
  evidence_excerpt: the Company’s Board of Directors appointed George Scorsis, Joseph Tung, and Oleh Nabyt as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1757499/000149315225008742/0001493152-25-008742-index.htm
- claim_id: b3ea0fd24f
  claim: Milton Brown resigned as Director at Shuttle Pharmaceuticals Holdings, Inc..
  evidence_excerpt: each of Milton Brown, Bette Jacobs, Chris Senanayake and Joshua Shafer resigned as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1757499/000149315225008742/0001493152-25-008742-index.htm
- claim_id: c9ccd02486
  claim: Joshua Shafer resigned as Director at Shuttle Pharmaceuticals Holdings, Inc..
  evidence_excerpt: each of Milton Brown, Bette Jacobs, Chris Senanayake and Joshua Shafer resigned as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1757499/000149315225008742/0001493152-25-008742-index.htm
- claim_id: cdcd0097f6
  claim: Bette Jacobs resigned as Director at Shuttle Pharmaceuticals Holdings, Inc..
  evidence_excerpt: each of Milton Brown, Bette Jacobs, Chris Senanayake and Joshua Shafer resigned as directors of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1757499/000149315225008742/0001493152-25-008742-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.