OS Therapies Inc [OSTX] - Equity Issuance
OS Therapies Inc is issuing a Bridge Note with a purchase price of $2,190,000, which will convert into securities in a private offering of up to $10,000,000 upon closing, with proceeds used for the Leonite Settlement Payment and general working capital.
Why this matters
OS Therapies Inc, a pharmaceutical company based in Delaware, focuses on developing treatments within the pharmaceutical preparations sector. The company has announced an equity issuance involving a Bridge Note with a purchase price of $2,190,000, which will convert into securities in a private offering of up to $10,000,000 upon closing. This action is primarily aimed at settling obligations under the Leonite Settlement Agreement and providing general working capital. As part of the settlement, all security interests and claims held by Leonite will be released, and assets previously assigned to Leonite will revert to OS Therapies UK Ltd, a wholly owned subsidiary of OS Therapies Inc.