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NRx Pharmaceuticals Announces $30 Million Private Placement
RADNOR, Pa., Aug. 19, 2021 /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., Aug. 19, 2021 /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 2,727,273 shares of common stock in a private placement. The Company will also issue to the investors unregistered preferred investment options (the \"investment options\") to purchase up to an aggregate of 2,727,273 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 $11.00. The investment options have an exercise price of $12.00 per share, will be immediately exercisable, and will have a term equal to three years following the date of issuance.\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 $30 million before deducting placement agent fees and other offering expenses. The private placement is expected to close on or about August 23, 2021, subject to the satisfaction of customary closing conditions.\n\"The proceeds of this investment will be targeted towards accelerating the forward path of our CNS/psychiatry franchise and COVID vaccine franchises, together with supporting the transition of ZYESAMI from clinical to commercial stage as regulatory approval is obtained from national regulators,\" 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 Pharmaceuticals\nNRx Pharmaceuticals (NRx...