debt
confidence high
sentiment neutral
materiality 0.70
OS Therapies raises $5M initial tranche via convertible notes and warrants
OS Therapies Inc
- Closed initial $5M tranche of private placement; issued $5.405M principal in 9% senior secured convertible notes.
- Notes convertible at $2.05/share; 600k shares, 900k pre-funded warrants, 1.5M warrants issued at closing.
- $2.2M bridge note converted into $2.378M note plus warrants; notes mature in 9 months, prepayable at 110%.
- Second $5M tranche optional; placement agent Ceros gets 5% cash fee and 75k warrants at $3.14.
- Proceeds for clinical development and working capital; company barred from dividends without holder consent.