Shuttle Pharmaceuticals (SHPH) Prices 19.17M Share Offering at $0.30/sh

Shuttle Pharmaceuticals Holdings, Inc. (Nasdaq: SHPH) (“Shuttle Pharma”), a discovery and development stage specialty pharmaceutical company focused on improving outcomes for cancer patients treated with radiation therapy (RT), announced today the pricing of an underwritten public offering of 19,166,667 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) at a public offering price of $0.30 per share (the “Offering”). The aggregate gross proceeds to Shuttle Pharma from the Offering are expected to be approximately $5.75 million, 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.

The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-284889), which was declared effective by the Securities and Exchange Commission (the “SEC”) on March 7, 2025. The Offering is being made only by means of a written prospectus that forms a part of the registration statement. A final prospectus relating to the Offering will be filed with the SEC. When available, copies of the final prospectus relating to the Offering may be obtained from WestPark Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, CA 90077, tel: 310-203-2919, e-mail: [email protected] and will be available on the SEC’s website.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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