Shuttle Pharmaceuticals Announces $3.5 M Offering of 2.24 M Shares and Warrants
Shuttle Pharmaceuticals plans to raise $3.5 million by issuing 2,238,800 common shares and pre-funded warrants for 4,761,200 shares, with gross proceeds before fees. The company will allocate $1.5 million for marketing efforts and use the remaining net proceeds for working capital and general corporate purposes.
1. Public Offering Details
Shuttle Pharmaceuticals is conducting a public offering of 2,238,800 common shares alongside pre-funded warrants exercisable for 4,761,200 additional shares, targeting gross proceeds of approximately $3.5 million before placement agent fees and expenses.
2. Use of Net Proceeds
The company intends to deploy up to $1.5 million of the net proceeds toward marketing initiatives, with the remaining funds earmarked for working capital requirements and general corporate purposes to support ongoing operations.
3. Closing Timeline and Conditions
The offering is expected to close on or about March 9, 2026, subject to satisfaction of customary closing conditions, including regulatory approvals and completion of placement agent formalities.
4. Company Platform Overview
Shuttle Pharmaceuticals owns Molecule.ai, an AI-driven molecular discovery and early-stage drug development platform designed to streamline chemical exploration and enhance decision-making in the initial phases of drug research.