OS Therapies prices up to $10 million senior secured convertible note private placement

Proceeds are earmarked for clinical development, regulatory work, working capital and general corporate purposes.

OS Therapies launched a private placement of senior secured convertible promissory notes of up to $10 million.

The first tranche closed Aug. 10 for $5 million in units, including the conversion of a $2.2 million bridge convertible promissory note.

Notes issued in the first tranche totaled $5.41 million of principal, reflecting a 7.5% original issue discount.

A second tranche of up to $5 million is optional at each purchaser’s discretion, subject to company acceptance.