NRx Pharmaceuticals Announces Definitive Purchase Agreement for Preferred Shares at $0.40 per share
Portfolio Pulse from Benzinga Newsdesk
NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) has entered into a definitive purchase agreement with accredited investors to sell 3,000,000 shares of preferred stock at $0.40 per share. These shares will convert into common shares and warrants to purchase common stock at the same price after six months.
August 29, 2023 | 10:56 am
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The definitive purchase agreement for preferred shares at $0.40 per share could potentially dilute the value of existing shares.
The sale of preferred shares at a relatively low price could dilute the value of existing shares, potentially leading to a decrease in the stock price. The conversion of these preferred shares into common shares and warrants after six months could further dilute the value.
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