NLS Pharmaceutics launches $1.75M share and warrant offering
NLSP
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ZURICH – NLS Pharmaceutics Ltd. (NASDAQ:NLSP), a Swiss biopharmaceutical company, announced on Wednesday a registered direct offering and concurrent private placement of securities expected to raise $1.75 million.
The company, specializing in central nervous system disorder treatments, is issuing 7 million common shares (or equivalents) at $0.25 each and warrants to purchase up to 3.5 million common shares at the same price.
The warrants, which are immediately exercisable upon issuance, will expire five years from the date of issuance. This offering is anticipated to close by March 22, 2024, subject to standard closing conditions. H.C. Wainwright & Co. serves as the exclusive placement agent for the transaction.
The proceeds from this offering, before deducting the placement agent’s fees and other expenses, will be directed towards working capital and general corporate purposes. The company’s shares and share equivalents are offered through a previously filed and effective “shelf” registration statement with the Securities and Exchange Commission (SEC).
The private placement of warrants is made under certain U.S. securities laws exemptions and, along with the common shares underlying the warrants, will not be registered under the Securities Act or state securities laws. Therefore, they may not be offered or sold in the U.S. without registration or an applicable exemption.
NLS Pharmaceutics, founded in 2015 and based in Switzerland, focuses on developing innovative therapies for patients with rare and complex central nervous system disorders. The company emphasizes that this press release contains forward-looking statements based on current expectations and that actual results could materially differ due to various risks and uncertainties.
This financial news is based on a press release statement from NLS Pharmaceutics.
