Oncotelic Therapeutics Announces Convertible Note Financing with Pacific Pier

What Happened
On August 3, 2026, Oncotelic Therapeutics, Inc. announced it entered into a Securities Purchase Agreement with Pacific Pier Capital II, LP and issued a convertible promissory note totaling $178,410 (the “2026 Pacific Pier Note 2”). The note is short‑term (matures on the earlier of one year, acceleration upon default, or prepayment), carries a 12% annual interest rate and a 12% original issue discount, and is convertible into the company’s common stock.

Key Details

• Counterparty: Pacific Pier Capital II, LP; agreement dated August 3, 2026.
• Note principal: $178,410; original issue discount: 12%; interest rate: 12% per annum.
• Conversion: Holder may convert outstanding principal and accrued interest into common stock at either $0.06 per share or 85% of the lowest traded price on the principal market during the 10 trading days prior to conversion (subject to adjustments).
• Commitment shares: Company issued 500,000 shares of common stock to Pacific Pier as commitment consideration.
• Prepayment & default: Prepayment may be made with three trading days’ notice (per the note’s terms); customary Events of Default apply and, if triggered, the holder may accelerate the note and interest increases to 16% (default rate).
• Exhibits: Form of the securities purchase agreement and convertible note are filed as exhibits to the 8‑K.

Why It Matters
This filing documents a small, short‑term financing that provides Oncotelic with immediate capital but also creates potential near‑term dilution. If converted at the fixed $0.06 price, the $178,410 principal alone would translate to roughly 2.97 million new shares (plus additional shares for accrued interest), and the 500,000 commitment shares were issued up front — both increase the company’s share count. The one‑year maturity and default provisions mean the company may need to repay, refinance, or face conversion within a relatively short period. Investors should note the financing size is modest, but conversion terms and commitment shares can affect share dilution and outstanding float.