E.F. Hutton & Co. Serves as Exclusive Placement Agent on Shuttle Pharmaceuticals' $3.5 Million Public Offering

Core Viewpoint - E.F. Hutton & Co. acted as the exclusive placement agent for Shuttle Pharmaceuticals' $3.5 million public offering, aimed at supporting the company's AI-driven platform for molecular discovery and drug development [1][2]. Group 1: Offering Details - Shuttle Pharmaceuticals entered into a securities purchase agreement for the issuance of 2,238,800 shares of common stock and pre-funded warrants to purchase 4,761,200 shares, resulting in gross proceeds of approximately $3.5 million before fees and expenses [2]. - The offering closed on March 10, 2026, with Shuttle Pharmaceuticals planning to allocate up to $1.5 million of the net proceeds for marketing efforts, while the remainder will be used for working capital and general corporate purposes [3]. Group 2: Company and Executive Commentary - Joseph T. Rallo, CEO of E.F. Hutton & Co., expressed satisfaction in supporting Shuttle Pharmaceuticals, highlighting the transaction's alignment with the company's operational priorities and development objectives [4]. - The securities were offered under a registration statement filed with the SEC on February 11, 2026, which became effective on February 17, 2026, and the offering was conducted via a prospectus that is part of this registration statement [4]. Group 3: Company Background - E.F. Hutton & Co. is an investment bank and broker-dealer based in Manhattan, providing a range of advisory and financing solutions to various clients, including corporates and public-private partnerships [6]. - The firm offers comprehensive investment banking services, including capital markets, PIPEs, private placements, M&A advisory, and strategic financing, with a global presence across multiple regions [6].