Shuttle Pharmaceuticals prices $4.5M at-the-market offering at $1.525 per share

Shuttle Pharmaceuticals (SHPH) announced the pricing of its “reasonable best efforts” public offering with a health-care focused institutional investor for the purchase and sale of up to 2,950,820 shares of common stock and warrants to purchase up to 2,950,820 shares of common stock at a combined offering price of $1.525 per share and accompanying warrant, priced at-the-market under Nasdaq rules. The Company expects to receive aggregate gross proceeds of approximately $4.5 million, before deducting placement agent fees and other offering expenses, and assuming no exercise of the warrants. The warrants will have an exercise price of $1.40 per share, will be exercisable immediately and will expire five years from the issuance date. A.G.P./Alliance Global Partners is acting as the lead placement agent for the Offering and Boustead Securities, LLC is acting as a co-placement agent for the Offering.