Sharp Therapeutics Closes Second Tranche of Convertible Note Offering

The company raised $200,000 in the second tranche of its non-brokered private placement.

Mar. 13, 2026 at 9:05pm

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Sharp Therapeutics Corp. has closed the second tranche of its previously announced non-brokered private placement for unsecured convertible notes. The company issued a total of 200 notes for aggregate gross proceeds of approximately $200,000 in the second tranche. With the closing of the second tranche, the outstanding amount committed to the company pursuant to the note offering is now 600 notes for aggregate gross proceeds of approximately $600,000, which are to be issued in three subsequent tranches.

Why it matters

The additional capital raised through the convertible note offering will provide Sharp Therapeutics with the necessary funding to advance its preclinical-stage pipeline of small-molecule therapeutics for genetic diseases. As a clinical-stage biotech company, securing financing is crucial for the company's continued development and growth.

The details

The convertible notes have a principal amount of $1,000 per note and are convertible at the option of the holder into common shares of the company at a conversion price of $2.00 per share. The notes will bear interest at a rate of 6% per annum, payable in cash on the maturity date of 12 months following the applicable closing date. STX Partners, LLC, an insider of the company, participated in the second tranche and subscribed for a total of 200 notes.

  • The second tranche closed on March 13, 2026.
  • The remaining 400 notes are expected to be issued in three subsequent tranches on March 27, 2026, April 10, 2026, and April 24, 2026.

The players

Sharp Therapeutics Corp.

A preclinical-stage company developing small-molecule therapeutics for genetic diseases.

STX Partners, LLC

An insider of Sharp Therapeutics Corp. that participated in the second tranche of the convertible note offering.

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What’s next

The remaining 400 notes are expected to be issued in three subsequent tranches on March 27, 2026, April 10, 2026, and April 24, 2026.

The takeaway

As a clinical-stage biotech company, securing financing is crucial for Sharp Therapeutics' continued development and growth. The successful closing of the second tranche of the convertible note offering demonstrates the company's ability to raise capital and progress its pipeline of genetic disease treatments.