OSR Health opts to issue up to $15 million in staged convertible notes
OSRH•OSR Health plans to issue up to $15 million in milestone-based convertible notes instead of common stock under its fully exercised equity option. Closing is targeted by December 31, 2026, subject to a definitive agreement.
1. Proposed note financing
OSR Health said it is discussing milestone-based funding tranches with a Korea-based investor. The closing is targeted no later than December 31, 2026, and requires a definitive note agreement setting tranche terms and conversion prices. If the note purchase does not close within 10 business days of the scheduled closing date, the equity option will be reinstated.
