OS Therapies entered a financing with Leonite Fund I built around a senior secured convertible note of up to $10 million, 275,000 commitment shares, and a five-year warrant for up to 1,750,000 shares. An initial $1.6 million tranche is expected on July 2, 2026, with a potential $0.4 million follow-on within 14 days and further tranches at the investor’s discretion. The company expects to use proceeds for clinical development, regulatory activities, and working capital. Security for the note includes a first-priority lien on substantially all assets and an assignment of UK VAT and R&D tax refunds, with exchange-cap and registration obligations also in place.
Agreement 1: OS Therapies Arranges Up To $10 Million Secured Convertible Note Financing With Leonite Fund I
- Agreement type: Securities purchase agreement for senior secured convertible note and equity incentives
- Counterparty: Leonite Fund I
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: Until note repaid; rights extend up to 18 months post last advance
- Reason: Fund clinical development and working capital
Agreement 2: OS Therapies Issues Senior Secured Convertible Note Bearing 9% Interest, Tranches Up To $10 Million
- Agreement type: Senior secured convertible promissory note
- Counterparty: Leonite Fund I
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: Up to 24 months from note issue; 9 months per tranche
- Reason: Flexible funding for operations and trials
Agreement 3: OS Therapies Grants Five-Year Warrant For Up To 1.75 Million Shares At $2.85 To Leonite
- Agreement type: Common stock purchase warrant
- Counterparty: Leonite Fund I
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: Until Jun 30 2031
- Reason: Investor equity incentive to support financing
Agreement 4: OS Therapies Pledges First-Priority Lien On Assets To Secure Convertible Note
- Agreement type: Pledge and security agreement
- Counterparty: Leonite Fund I
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: Until obligations under the note are repaid
- Reason: Enhance collateral coverage for investor
Agreement 5: OS Therapies Assigns UK VAT and R&D Tax Refund Claims To Investor As Additional Consideration
- Agreement type: Assignment of VAT and R&D tax refund claims
- Counterparty: Leonite Fund I
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: Until refunds and credits are fully collected
- Reason: Augment collateral and cash recovery for financing
Original SEC Filing:
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