NRx Pharmaceuticals Announces Definitive Purchase Agreement For 2.7M Shares At $0.38/Share
Portfolio Pulse from Benzinga Newsdesk
NRx Pharmaceuticals has entered into a definitive purchase agreement with an existing investor for the sale of 2.7 million shares at $0.38 per share, raising approximately $1.0 million. This represents a 26.7% premium over the recent share offering. The deal also includes a 5-year warrant with a $0.40 per share strike price. The funds will support the company's development pipeline, including projects on Suicidal Depression, Suicidal Bipolar Depression, and Chronic Pain, in addition to general corporate purposes.
March 01, 2024 | 1:33 pm
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NRx Pharmaceuticals raises $1M from the sale of 2.7M shares at $0.38/share, a 26.7% premium, including a 5-year warrant at $0.40/share. Funds aimed at advancing its development pipeline and for general corporate purposes.
The sale of shares at a premium indicates strong investor confidence in NRx Pharmaceuticals and its development pipeline. This financial boost is likely to positively impact the company's stock price in the short term as it demonstrates both the ability to raise funds at a premium and the potential progress in its key development areas.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100