LegalAug 6, 2026, 04:24 PM
OS Therapies Settles Leonite Financing for $1.9M Cash, 500K Shares
AI Summary
OS Therapies Inc. has entered into a settlement agreement with Leonite Fund I, LP to resolve disputes stemming from a previously disclosed $10 million senior secured convertible promissory note. Under the terms of the settlement, OS Therapies will pay Leonite $1.9 million in cash and issue 500,000 shares of its common stock by August 7, 2026. Upon closing, the original note, associated commitment shares, and warrant will be terminated, and all security interests will be released, with both parties exchanging mutual releases of claims.
Key Highlights
- OS Therapies entered a settlement agreement with Leonite Fund I, LP on July 31, 2026.
- The settlement resolves disputes related to a previously disclosed $10,000,000 senior secured convertible promissory note.
- Company will pay Leonite $1,900,000 in cash by August 7, 2026.
- Company will issue 500,000 shares of common stock to Leonite by August 7, 2026.
- The original Leonite Note, 275,000 commitment shares, and 1,750,000 share warrant will be terminated and cancelled.
- All security interests granted to Leonite will be released upon settlement closing.
- Parties will exchange unconditional mutual releases of all claims and disputes.
Price Impact
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