OS Therapies Prices Private Placement Of 1.5 Mln Units At $4/Unit, Stock Rises

(RTTNews) - OS Therapies Inc. (OSTX), Tuesday announced the pricing of private placement of 1.5 million units at a price of $4.00 per unit, with each unit consisting of one share of Series A Senior Convertible Preferred Stock, expected to raise $6 million.

The company intends to use the proceeds for working capital, primarily focused on the clinical and regulatory milestones to support commercialization of the company's lead therapeutic candidate OST-HER2 in the treatment of recurrent, resected metastatic osteosarcoma in the United States in 2025, and for general corporate purposes.

The private placement is expected to close on or about December 27.

Currently, OS Therapies's stock is climbing 5.82 percent, to $4.14 on the New York Stock Exchange.