Sharp Therapeutics updates private placement to raise at least $10 million

Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) updated terms of its non-brokered private placement announced in October, with the company seeking to raise at least $10 million through common shares priced at a minimum of $2.50 per share.

The company expects the offering to close in the first quarter of 2026, with proceeds designated for general working capital purposes.

STX Partners, Sharp's largest shareholder, committed to purchase at least 1.6 million shares for approximately $4 million, contingent on the company raising at least $6 million from other investors and closing by March 15, 2026. Other company insiders will also participate in the offering.

The insider participation constitutes a related-party transaction under Multilateral Instrument 61-101, though the company is exempt from formal evaluation and minority shareholder approval requirements as the transaction value remains below 25% of market capitalization.

Sharp reported progress on its compound '901 for Gaucher disease treatment, with pre-IND studies in dogs showing the compound was well tolerated at doses exceeding those used in earlier efficacy studies. The company filed a patent application with the U.S. Patent and Trademark Office for '901 and over 250 related analogs, and plans to seek Orphan Drug Designation from the FDA in the first quarter of 2026.

The company granted 200,000 stock options to directors on May 21, 2025, exercisable at CAD$1.48 per share until May 21, 2035. An additional 225,000 options were granted to an officer on December 17, 2025, exercisable at CAD$2.21 per share until December 17, 2035. Both grants include three-year vesting provisions.

All securities issued will be subject to a four-month hold period and require TSX Venture Exchange approval. The securities have not been registered under U.S. securities laws.

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