Oncotelic Therapeutics entered into a Securities Purchase Agreement with Pacific Pier to issue a $178,410 convertible promissory note to support liquidity. The note carries a 12% original issue discount, bears 12% annual interest, and matures in up to one year. It is convertible at a fixed $0.06 per share or 85% of the lowest traded price over the prior 10 trading days, and includes 500,000 commitment shares. Prepayment is permitted after six months with notice; default interest is 16%.
Agreement details:
- Agreement type: Convertible note financing under Securities Purchase Agreement
- Counterparty: Pacific Pier Capital II
- Signed / Effective: Jun 23 2026 / Jun 23 2026
- Duration / Termination: Up to 1 year
- Reason: Strengthen liquidity for operations
Original SEC Filing:
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