NRx Pharmaceuticals Closes $22.3M Stock Offering at $3.50, Boosts Cash Balance
NRXP•NRx Pharmaceuticals raised approximately $22.3 million gross through an underwritten public offering of common stock at $3.50 per share, including the full exercise of the underwriters’ option. The company plans to deploy net proceeds toward working capital and general corporate purposes to advance its clinical-stage NMDA-platform pipeline.
1. Offering Details
NRx Pharmaceuticals closed its underwritten public offering of common stock at $3.50 per share, raising gross proceeds of approximately $22.3 million, including full exercise of the underwriters' option to purchase additional shares.
2. Use of Proceeds
The company intends to allocate net proceeds toward working capital and general corporate purposes, supporting ongoing operations and the advancement of its clinical-stage NMDA platform therapeutic programs.
3. Investors and Management Roles
B Group Capital led the offering with significant stakes from Columbia Threadneedle Investments, Corbets Capital, Venture 76 and Mossrock Capital, while BTIG served as lead bookrunning manager and Lucid Capital Markets acted as joint manager.
