NRx Pharmaceuticals, Inc. Announces Pricing Of $2M Underwritten Public Offering Of Common Stock At A Public Offering Price Of $3.30 Per Share
Portfolio Pulse from Benzinga Newsdesk
NRx Pharmaceuticals, Inc. (NRXP) announced a $2M underwritten public offering of its common stock at $3.30 per share. The offering includes an option for underwriters to purchase additional shares and is expected to close on April 19, 2024. Proceeds will be used for working capital, general corporate purposes, and possibly to repay debt.
April 18, 2024 | 12:35 pm
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NRx Pharmaceuticals, Inc. announces a $2M public offering at $3.30/share to fund working capital and potentially repay debt.
Public offerings can dilute existing shares, potentially leading to short-term negative sentiment among investors. However, the proceeds' intended use for working capital and debt repayment could stabilize the company's financial position, balancing the short-term impact.
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