Business
HOPE Therapeutics, Inc. and NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Announce Signing of a Term Sheet for Strategic Investment from a Global Medical Device Manufacturer into HOPE
Investment to support initiation of HOPE's network of clinics to treat suicidal depression and PTSD with ketamine, TMS and other modalities MIAMI, April 3,
About this update from Nrx Pharmaceuticals, Inc.
[{"type":"text","content":"Investment to support initiation of HOPE's network of clinics to treat suicidal depression and PTSD with ketamine, TMS and other modalities MIAMI, April 3, 2025 /PRNewswire/ -- HOPE Therapeutics, Inc., (\"HOPE,\" the \"Company\"), an interventional psychiatry network wholly owned by NRx Pharmaceuticals, Inc. (\"NRx\") (Nasdaq:NRXP), today announced signing of a term sheet with a global medical device manufacturer, as anticipated in the Company's recently filed annual report. The investor shares HOPE's vision of providing comprehensive interventional psychiatry treatments to patients around the world. \n\n \n \n \n \n \n \n\n \nThe Term Sheet, which is non-binding and subject to the execution of a definitive Stock Purchase Agreement, contemplates an investment of $2.5 million to purchase Series A Convertible Preferred Stock (the \"Series A Preferred\") at a $50 million pre-money valuation. The terms of the Series A Preferred will be defined in a Certificate of Designation to be filed with the State of Delaware, and expected to provide for, among other things, a dividend based on current market conditions and the right to appoint a director to HOPE's Board. The pre-money valuation shall be subject to future adjustment based on actual Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the third quarter ended September 30, 2026.\nThis investment, together with expected bank financing and current balance sheet assets, is anticipated to close concurrent with, and in support of, the closing of HOPE's recently announced clinic acquisitions.\n\"As identified in our recent annual report and in recently published independent research reports, we continue to execute on our strategy to combine already-profitable, best-in-class interventional psychiatry clinics to serve the extraordinary unmet need of patients with severe depression and PTSD,\" said Jonathan Javitt, MD, MPH, and Matthew Duffy, co-CEO's of HOPE Therapeutics.\nAbout HOPE Therapeutics, Inc.\nHOPE Therapeutics, Inc. (www.hopetherapeutics.com) is a healthcare delivery company currently developing a best-in-class network of interventional psychiatry clinics to offer psychedelic medications, including ketamine and Spravato®, combined with Transcranial Magnetic Stimulation (TMS) and other lifesaving, neuroplastic therapies to patients with suicidal depressio...