Oncotelic Therapeutics, Inc. (OTLC): debt financing — Oncotelic secures $560K convertible note from Mast Hill; enters $25M equity purchase agreement

Oncotelic Therapeutics, Inc.

Issued $560,000 convertible promissory note to Mast Hill Fund, 10% OID, 10% interest, convertible at $0.07/share.
Note warrants issued for 2,000,000 shares at $0.15 exercise price; note secured against most company assets.
Also entered $25M equity purchase agreement with Mast Hill; issued warrants for 3,350,000 shares.
Equity purchase price set at 97% of market price or 102% of market alternative price; commitment period up to 24 months.
Proceeds from note for general working capital; registration rights agreements filed for resale of underlying shares.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Oncotelic Therapeutics, Inc. incurred convertible notes of $560,000 with Mast Hill Fund, LP at 10% per annum maturing earlier of (a) one-year anniversary of the date of the 2025 Mast Hill Purchase Agreement, or (b) acceleration by Mast Hill upon Event of Default, or (c) on prep.

Instrument: convertible notes
Principal: $560,000
Counterparty: Mast Hill Fund, LP
Rate: 10% per annum
Maturity: earlier of (a) one-year anniversary of the date of the 2025 Mast Hill Purchase Agreement, or (b) acceleration by Mast Hill upon Event of Default, or (c) on prep
Event: incurrence

Exact text from the filing

On July 31, 2025, Oncotelic Therapeutics, Inc. (the “Company” or “Our”) entered into a Securities Purchase Agreement (the “2025 Mast Hill Purchase Agreement ”), with Mast Hill Fund, LP (“ Mast Hill ”), and the Company issued a convertible promissory note in the aggregate gross principal amount of $560,000 (the “ 2025 Mast Hill Note ”).

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Oncotelic Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-022361

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