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NRx Pharmaceuticals Announces $25 Million Private Placement Priced at a Premium to Market under Nasdaq Rules
RADNOR, Pa., Jan. 31, 2022 /PRNewswire/ -- NRx Pharmaceuticals (NRx) (Nasdaq: NRXP) (or the "Company"), a Delaware corporation, today announced that it has
About this update from Nrx Pharmaceuticals, Inc.
[{"type":"text","content":"RADNOR, Pa., Jan. 31, 2022 /PRNewswire/ -- NRx Pharmaceuticals (NRx) (Nasdaq: NRXP) (or the \"Company\"), a Delaware corporation, today announced that it has entered into definitive agreements with investors to purchase 7,824,727 shares of common stock in a private placement priced at a premium to market under Nasdaq rules. The Company will also issue to the investors unregistered preferred investment options (the \"investment options\") to purchase up to an aggregate of 7,824,727 shares of common stock. The purchase price for one share of common stock and one investment option to purchase one share of common stock is $3.195. The investment options have an exercise price of $3.07 per share, will be exercisable six months following issuance, and will have a term equal to five years following the date of initial exercise.\n\n \n \n \n \n \n \n\n \nH.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.\nThe gross proceeds from the private placement are expected to be approximately $25 million before deducting placement agent fees and other offering expenses. The private placement is expected to close on or about February 2, 2022, subject to the satisfaction of customary closing conditions.\n\"The proceeds of this investment will be targeted towards continuing to advance our three potentially life-saving therapies,\" said Jonathan C. Javitt, MD, MPH, CEO and Chairman of NRx Pharmaceuticals.\nThe securities offered in the private placement have not been registered under the Securities Act of 1933, as amended (the \"Securities Act\"), or applicable under state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.\nThis press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.\nAbout NRx PharmaceuticalsNRx Pharmaceuticals (NRx) draws upon more than 300 years of collective, scientific and drug-development experience to bring...