NRx Pharmaceuticals Announced The Issuance Of An Order By A Utah Arbitrator Denying The Petition Of Streeterville Capital To Enjoin NRx's Planned Spinoff Of 49% Of The Shares In Hope Therapeutics To Current Shareholders
Portfolio Pulse from Benzinga Newsdesk
NRx Pharmaceuticals announced that a Utah arbitrator denied Streeterville Capital's petition to prevent the spinoff of 49% of HOPE Therapeutics shares to NRx shareholders and to stop NRx from selling additional shares. The spinoff aims to provide value to NRx shareholders and potentially list HOPE Therapeutics on a national exchange.
July 29, 2024 | 12:36 pm
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NRx Pharmaceuticals can proceed with the spinoff of 49% of HOPE Therapeutics shares to its shareholders and continue selling additional shares to finance operations, following a favorable arbitration ruling.
The arbitration ruling allows NRx Pharmaceuticals to proceed with its planned spinoff of HOPE Therapeutics, which could unlock value for shareholders and potentially lead to a new listing. Additionally, the ability to sell more shares provides financial flexibility.
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