secwatch.observer — SEC 8-K summary
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Issuer:     Shuttle Pharmaceuticals Holdings, Inc. (SHPH)
CIK:        0001757499
Form:       8-K
Filed at:   2025-02-28T23:59:59+00:00
Accession:  0001493152-25-008742
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1757499/000149315225008742/0001493152-25-008742-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1757499/000149315225008742/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-008742

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