OS Therapies Inc. Completes Private Placement Closing and Enters into Material Definitive Agreement

On January 14, 2025, OS Therapies Incorporated (NYSE: OSTX), a notable ADC and immunotherapy research and clinical-stage biopharmaceutical company, finalized a significant phase with the second closing of a private placement, along with an amendment to its Purchase Agreement and Registration Rights Agreement.

The Private Placement was initially reported by the Company in a Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC) on December 30, 2024. In connection with this placement, the Company executed a Securities Purchase Agreement on December 24, 2024, involving selected accredited and institutional investors. The agreement involved the issuance and sale of separable units, consisting of shares of the Company’s Series A Senior Convertible Preferred Stock and warrants to purchase common stock, at a unit price of $4.00, aiming to raise between $6 million and $10 million.

As part of the Purchase Agreement, OS Therapies is restricted from issuing additional shares of common stock or convertible securities for a specific duration post-closing, and there are limitations regarding variable rate transactions while Investors hold Warrants. A Certificate of Designation drafted on December 27, 2024, outlines the rights and restrictions pertaining to the Series A Preferred Stock.

Furthermore, an Amendment to the Purchase Agreement and Registration Rights Agreement was executed on January 10, 2025, allowing for additional closings on the Private Placement. This amendment also dictates deadlines for submitting a Registration Statement to the SEC post-closing.

At the second closing of the Private Placement, OS Therapies sold an aggregate of 263,250 Units to investors, resulting in gross proceeds of approximately $1,053,000 before deductions. In connection with this closing, fees were dispensed to involved parties according to the Placement Agency Agreement.

Additionally, the Second Closing Investors subscribed to purchase Units, and OS Therapies entered agreements like the Registration Rights Agreement, Voting Agreement, and others to facilitate the transactions effectively. Detailed information on these Agreements and related matters can be found in the filed Exhibits accompanying the Current Report on Form 8-K.

This update concludes the key details derived from the recent filings by OS Therapies Incorporated regarding its Private Placement activities and associated agreements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read OS Therapies’s 8K filing here.

About OS Therapies

OS Therapies Incorporated, a clinical stage biopharmaceutical company, focuses on the identification, development, and commercialization of treatments for osteosarcoma and other solid tumors in the United States. Its pipeline includes OST-HER2, an off-the-shelf immunotherapy for osteosarcoma patients; and OST-tunable drug conjugate (OST-tADC), an antibody-drug conjugate technology, with a plug-and-play platform that features tunable pH sensitive silicone linkers.