debt
confidence high
sentiment neutral
materiality 0.50
Oncotelic closes 3rd tranche of unit financing, raising $1.05M via convertible notes and warrants
Oncotelic Therapeutics, Inc.
- 42 units issued at $25,000 each for aggregate $1.05M; each unit includes a convertible note and 250,000 warrants.
- Notes convertible at $0.10/share; warrants exercisable at $0.12/share; placement agent fees of $157,500 paid.
- Debt of $1.05M from 27 accredited investors converted into the units under the subscription agreements.
- Third tranche of a financing previously reported in July 2023; total units subject to best-efforts placement agent agreement.