NLS Pharmaceutics Announces Selection Of Strategic Partner And Securing A Bridge Loan; Terms Not Yet Finalized; Intent To Close Transaction Q1 2024
Portfolio Pulse from Benzinga Newsdesk
NLS Pharmaceutics has executed a non-binding term sheet for licensing its intellectual property and secured an additional bridge loan from insiders to extend its cash runway. The company has also implemented significant internal cost reductions. The terms of the strategic partnership and bridge loan are not yet finalized, with the intent to close the transaction in Q1 2024.
November 16, 2023 | 1:10 pm
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NLS Pharmaceutics has announced a strategic partnership and secured a bridge loan to improve its financial position, with significant cost reductions also in place. The transaction is expected to close in Q1 2024.
The announcement of a strategic partnership and securing of a bridge loan suggests positive developments for NLS Pharmaceutics. These actions indicate that the company is taking steps to secure its financial future and potentially grow its business. The non-binding nature of the term sheet and the fact that the terms are not yet finalized introduce some uncertainty, but the overall news is likely to be viewed positively by investors in the short term.
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