OS Therapies registers 500,000 shares for Leonite as part of debt settlement

OS Therapies Incorporated filed a prospectus supplement dated August 6, 2026 to offer 500,000 shares of common stock directly to Leonite Fund I, LP. The shares form part of the consideration under a settlement agreement and mutual release dated July 31, 2026 between OS Therapies, its wholly owned subsidiaries, and Leonite.¹

The dispute traces back to a June 30, 2026 financing. OS Therapies and its subsidiaries entered a securities purchase agreement with Leonite for a private placement of a senior secured convertible note that could be funded up to $10,000,000 in principal.¹ As additional consideration, the company issued Leonite 275,000 commitment shares and a five-year warrant for up to 1,750,000 shares at an initial exercise price of $2.85.¹ Leonite funded an initial tranche of $1,600,000 on July 2, 2026, minus $35,000 retained for legal fees.¹

Under the July 31 settlement, OS Therapies agreed to pay Leonite $1,900,000 in cash and issue 500,000 settlement shares by August 7, 2026, to fully satisfy all amounts owed under the note and related documents.¹ To fund the cash portion, the company issued a $2,200,000 bridge note on August 2, 2026 for net proceeds of $2,190,000, using those proceeds on August 3 to make the settlement payment.¹

Once both the cash payment and shares are delivered, the note and all related obligations will be deemed satisfied and cancelled, the warrant will be cancelled unexercised, the commitment shares will be returned for cancellation, and Leonite's security interests over company assets will be released.¹

OS Therapies trades on the NYSE American under "OSTX," which closed at $1.60 per share on August 5, 2026.¹ The shares are being offered directly to Leonite without a placement agent or underwriter, and the company will not receive cash proceeds from this issuance.¹