Oncotelic Therapeutics Inc. has announced the completion of a private placement, entering into subscription agreements with 21 accredited investors for the sale of 32 units as part of an offering of up to 500 units. Each unit consists of a $25,000 note bearing 12% annual interest, convertible into either 250,000 shares of Oncotelic common stock at $0.10 per share or 25,000 shares of EdgePoint AI, Inc., a subsidiary, at $1.00 per share. Additionally, each unit includes 250,000 warrants to purchase Oncotelic common stock at $0.12 per share or 25,000 warrants for EdgePoint stock at $1.25 per share, both with anti-dilution provisions and a two-year exercise period. The offering is exempt from SEC registration under Rule 506 of Regulation D.
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