Galectin Therapeutics announced that Chairman Richard E. Uihlein has converted all outstanding principal and accrued interest under five of the company's six line of credit facilities into common stock, eliminating approximately $105.8 million in total debt. The conversion, effective July 31, 2026, involved the issuance of 34,376,167 shares to Mr. Uihlein at a blended average conversion price of approximately $3.07 per share. The eliminated debt consisted of $91.0 million in principal and approximately $14.8 million in accrued interest. A sixth facility, dated December 19, 2025, providing up to $10 million in additional financing, remains undrawn and available to the company. Following the conversion, Galectin had 100,849,644 shares of common stock outstanding.
Galectin Therapeutics IncDebt elimination through equity conversion strengthens balance sheet.