Milestone Scientific Inc. (MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced that three members of its Board of Directors have converted $465,000 of outstanding loans owed by the Company into common stock, eliminating the Company’s outstanding note payable and resulting in a debt-free balance sheet.

The debt-to-equity conversion was completed effective August 19, 2026 at a rate of $0.50 per share, representing a 6.4% premium to the Company’s closing market price of $0.47 per share on August 19, 2026. The conversion resulted in the issuance of 976,870 shares of common stock to the participating directors.