Financing ·
Galectin converts $105.8M debt to equity, eliminating principal and accrued interest
GALTGalectin Therapeutics Inc
Galectin Therapeutics converted all outstanding convertible promissory notes held by Chairman Richard E. Uihlein into 34,376,167 shares of common stock on July 31, 2026. The transaction eliminated approximately $91.0 million in aggregate principal and $14.8 million in accrued interest, totaling $105.8 million in debt obligations. The conversion occurred at a blended average price of approximately $3.07 per share. Following the exchange, the company has 100,849,644 shares outstanding, significantly strengthening its balance sheet while leaving an undrawn $10 million credit facility available. Galectin Therapeutics is a clinical-stage biopharmaceutical company developing therapies targeting galectin-3 for liver fibrosis and MASH cirrhosis.