NRx Pharmaceuticals Launches Common Stock Offering with 15% Overallotment Option
NRXP•NRx Pharmaceuticals plans an underwritten offering of its common stock, including a 30-day option for underwriters to buy an additional 15% of shares. Proceeds will be used for working capital and general corporate purposes to advance its NMDA platform therapies.
1. Offering Structure
NRx Pharmaceuticals intends to sell shares of its common stock under an effective Form S-3 shelf registration, granting underwriters a 30-day option to purchase up to 15% additional shares on the same terms. The size, pricing and completion of the offering remain subject to market conditions and customary closing requirements.
2. Underwriters and Timing
BTIG, LLC is serving as lead bookrunner with Lucid Capital Markets, LLC as joint bookrunning manager. No assurance exists regarding the timing, size or ultimate completion of the offering, which is contingent on market and other factors.
3. Use of Proceeds
Net proceeds from the offering are earmarked for working capital and general corporate purposes to support the clinical development of the company’s NMDA platform programs, including NRX-100 for intravenous ketamine and NRX-101 oral D-cycloserine/lurasidone.
