Shuttle Pharmaceuticals prices 19.17M shares at 30c per share in public offering

Shuttle Pharmaceuticals (SHPH) announced the pricing of an underwritten public offering of 19,166,667 shares of its common stock at a public offering price of $0.30 per share. The aggregate gross proceeds to Shuttle Pharma from the Offering are expected to be approximately $5.75M, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Shuttle Pharma. The Offering is expected to close on March 13, 2025, subject to the satisfaction of customary closing conditions. Shuttle Pharma intends to use the net proceeds from the Offering to fund Shuttle Pharma’s Phase II clinical trial for its lead product candidate, for marketing and advertising services, and for working capital and general corporate purposes. The Offering is being conducted on a firm commitment basis. WestPark Capital, Inc. acted as the Sole Book-Runner in connection with the Offering.