OS therapies (OSTX) announced that it has entered into securities purchase agreements with investors to sell 1.5 million units at a price of $4.00 per unit, each unit consisting of one share of Series A Senior Convertible Preferred Stock, initially convertible into one share of common stock and one warrant to purchase one share of common stock, which is expected to generate gross proceeds to the company of $6 million, before deducting expenses related to the offering. The conversion price of the preferred shares into common shares is $4.00 and 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. Brookline Capital Markets, a division of Arcadia Securities, served as the placement agent and Ceros Financial Services was appointed as the selected dealer for the placement agent.
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