On September 6, 2022 Shuttle Pharmaceuticals Holdings, Inc. ( Nasdaq: SHPH), a discovery and development stage specialty pharmaceutical company focused on improving the outcomes of cancer patients treated with radiation therapy (RT) while reducing side effects, reported the closing of its initial public offering (IPO) of 1,225,888 units of common stock and warrants at a public offering price of $8.125 per unit, for aggregate proceeds of $9,960,340, before deducting underwriting discounts and estimated offering expenses (Press release, Shuttle Pharmaceuticals, SEP 6, 2022, View Source [SID1234619101]). Each unit consisted of one share of common stock and a warrant to purchase one share of common stock. Each of the warrants were exercised simultaneously with closing at an exercise price of $0.01 per share.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The Company’s common stock began trading on the Nasdaq Capital Market on August 31, 2022, under the symbol "SHPH."

Boustead Securities, LLC acted as lead underwriter and Valuable Capital Ltd. acted as co-underwriter for the offering.

The offering was made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained from Boustead Securities, LLC, via email at [email protected] or by calling +1 (949) 502-4408 or standard mail at Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 395, Irvine, CA 92618, USA. In addition, a copy of the final prospectus relating to the offering may be obtained via the SEC’s website at www.sec.gov.

A registration statement relating to these securities was filed with the Securities and Exchange Commission and was declared effective on August 29, 2022. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.