OS Therapies Secures $6 Million in Private Placement
In a significant development, OS Therapies (OSTX) has announced that it has entered into securities purchase agreements with investors to raise $6 million in gross proceeds. This private placement involves the sale of 1.5 million units at a price of $4.00 per unit, with each unit comprising one share of Series A Senior Convertible Preferred Stock and one warrant to purchase one share of common stock.
Key Terms of the Agreement
The conversion price of the Preferred Stock into shares of common stock is set at $4.00, while the exercise price of the warrants is $4.40 per share. The private placement is expected to close on or about December 27, subject to the satisfaction of customary closing conditions.
Role of Placement Agent and Selected Dealer
Brookline Capital Markets, a division of Arcadia Securities, served as the placement agent for this transaction. Ceros Financial Services was engaged as a selected dealer to the placement agent, providing additional support for the private placement.
What This Means for OS Therapies
This private placement is a significant milestone for OS Therapies, providing the company with the necessary funds to drive its growth and development. With this injection of capital, OS Therapies is well-positioned to achieve its goals and create value for its shareholders.
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