NRx Pharmaceuticals Raises $25M Via Equity To Support Its Pipeline Development

NRx Pharmaceuticals NRXP has announced the private placement of 7.8 million shares priced at a premium to market under Nasdaq rule, for gross proceeds of $25 million.

• The Company will also issue unregistered preferred investment options to purchase up to an aggregate of 7.8 million shares. 
• The purchase price for one share of common stock and one investment option to purchase one common share is $3.195. 
• "The proceeds of this investment will be targeted towards continuing to advance our three potentially life-saving therapies," said Jonathan Javitt, CEO and Chairman of NRx Pharmaceuticals.
• Related: NRx Pharma's COVID-19 Vaccine Candidate Show Potential Against Omicron Variant.
• The investment options have an exercise price of $3.07 per share, will be exercisable six months following issuance, and will have a term equal to five years.
• H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
• The private placement will close by February 2.
• Price Action: NRXP shares are down 9.46% at $2.83 during the market session on the last check Monday.