Indaptus corrects dilution math in $100M at-the-market offering prospectus

Indaptus Therapeutics filed Amendment No. 1 to its prospectus supplement on September 4, 2026, covering an at-the-market offering of up to $100,000,000 in common stock through H.C. Wainwright & Co. The sole purpose of the amendment was to amend, restate and supersede in its entirety the section entitled "Dilution" to correct a clerical error in the mathematical calculations regarding net tangible book value as of June 30, 2026, net tangible book value per share, and the resulting immediate dilution effect to new investors.¹

Under the corrected figures, net tangible book value stood at approximately $11.4 million, or approximately $0.09 per share, based on 133,242,324 shares outstanding as of that date.¹ Assuming the full $100,000,000 offering sold at $1.14 per share (the August 26, 2026 closing price), pro forma net tangible book value would rise to about $108.3 million, or $0.49 per share, an increase of roughly $0.40 per share for existing stockholders and dilution of about $0.65 per share for new investors.¹

By comparison, the prior prospectus supplement dated August 31, 2026 had put net tangible book value at approximately $13.3 million, or approximately $0.10 per share based on 133,242,324 shares of common stock issued and outstanding as of June 30, 2026², with pro forma figures of approximately $110.3 million, or roughly $0.50 per share, representing an increase of about $0.40 per share to existing stockholders and dilution of about $0.64 per share to new investors.²

As of the amendment, the company had not sold any shares of common stock under the prior prospectus supplement pursuant to the offering agreement.¹ Indaptus common stock trades on Nasdaq under the symbol "INDP," and last reported at $1.17 on September 2, 2026.¹