Loan & DebtJul 2, 2026, 04:38 PM
OS Therapies Secures $10M Convertible Note & $10M LOC
AI Summary
OS Therapies Inc. entered into a securities purchase agreement for a senior secured convertible promissory note of up to $10,000,000, along with issuing 275,000 commitment shares and a warrant for up to 1,750,000 shares. The first tranche of $1,600,000 from this note is expected on July 2, 2026. Concurrently, the company secured a $10,000,000 line of credit backed by UK tax credits, with an initial draw of $1,600,000. The proceeds will fund clinical development, regulatory activities, and general corporate purposes, extending the company's cash runway into 2027. Additionally, Dr. Craig Eagle was appointed to the Board of Directors, while Karim Galzahr stepped down.
Key Highlights
- Secured senior secured convertible promissory note for up to $10,000,000.
- Issued 275,000 commitment shares and warrant for up to 1,750,000 shares to investor.
- First tranche of $1,600,000 from note expected July 2, 2026.
- Secured $10,000,000 line of credit supported by UK tax credits.
- Received initial $1,600,000 draw from the line of credit.
- Dr. Craig Eagle appointed to the Board of Directors.
- Karim Galzahr stepped down from the Board of Directors.
- Company expects sufficient cash runway into 2027.
Price Impact
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