Sharp Therapeutics closes $200,000 convertible note offering

Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) completed the third tranche of its convertible note offering, raising $200,000 through the issuance of 200 notes at $1,000 each, according to a company statement.

The Pittsburgh-based preclinical-stage company has now committed $400,000 total through the note offering, with two additional tranches scheduled for April 10, 2026 and April 20, 2026. The TSX Venture Exchange granted a 30-day extension to complete the offering, moving the deadline from March 20, 2026 to April 20, 2026.

Each note carries a 6% annual interest rate and converts to common shares at $2.00 per share within 12 months of the closing date. The company plans to use proceeds for general working capital purposes.

STX Partners, LLC, identified as a company insider, purchased all 200 notes in the third tranche for $200,000. The transaction qualifies as a related-party transaction under securities regulations, though the company is exempt from formal valuation and minority shareholder approval requirements.

Sharp Therapeutics postponed a previously announced common share offering, stating it will provide updated timing and terms later. The company develops small-molecule therapeutics for genetic diseases using computational screening technologies.

All notes are subject to a four-month plus one-day hold period and require TSX Venture Exchange approval. No fees or commissions were paid in connection with the offering.

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