The following table summarizes outstanding warrants to purchase shares of Company Common Stock as of June 30, 2025 and December 31, 2024: | | | | | | | | | | | Number of Shares | | | | | | | June 30, | | December 31, | | Exercise | | | | | 2025 | | 2024 | | Price | | Term | Equity-classified Warrants | | | | | | | | | Legacy Orchestra Warrants | | 507,841 | | 507,841 | | $1.08 – $30.11 | | 0.10 – 8.75 | Hercules Warrants (Note 13) | | 52,264 | | 52,264 | | $5.74 | | 3.50 | Avenue Warrants | | 27,707 | | 27,707 | | $7.67 | | 2.50 | Non-employee Warrants | | 60,000 | | — | | $4.69 | | 3.12 | Private Warrants Held by Sponsor* | | 750,000 | | 750,000 | | $11.50 | | 4.32 – 4.57 | Private Warrants Held by Employees | | 660,000 | | 660,000 | | $11.50 | | 4.32 | Total Outstanding | | 2,057,812 | | 1,997,812 | | | | |
*Sponsor is defined as HSAC2 Holdings, LLC
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