Sharp Therapeutics closes fourth tranche of convertible note offering

Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) completed the fourth tranche of its unsecured convertible note offering, issuing 200 notes for gross proceeds of approximately $200,000, according to a company statement.

The notes carry a principal amount of $1,000 each and bear interest at 6% per annum. Each note can be converted into 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, an insider of the company, purchased all 200 notes in the fourth tranche for $200,000. The insider participation constitutes a related-party transaction under Canadian securities regulations, though the company is exempt from formal valuation or minority shareholder approval requirements as the transaction value remains below 25% of the company's market capitalization.

The company has one remaining tranche scheduled to close on or about April 20, 2026, which will issue an additional 200 notes for approximately $200,000 in gross proceeds. All notes are subject to a four-month-plus-one-day hold period and require approval from the TSX Venture Exchange.

Sharp Therapeutics, based in Pittsburgh and Toronto, develops small-molecule therapeutics for genetic diseases at the preclinical stage. The notes were offered through private placement in Canada and the United States under applicable securities law exemptions. No commissions or fees were paid in connection with the offering.

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