NRx Pharma Announces Pricing Of $1.5 Mln Share Offering, Stock Falls 32%

(RTTNews) - On Tuesday, NRx Pharmaceuticals Inc. (NRXP) announced the pricing of shares offering at $0.30 per share, to raise $1.5 million, in addition to an investor commitment of $1 million in the company.

The biopharmaceutical company plans to use the proceeds for debt repayment, working capital and other corporate-related purposes.

Additionally, the company had offered a 45-day option to underwriters to purchase an additional 750,000 shares.

The offering is expected to close on February 28.

In the pre-market activity, NRx's stock is trading at $0.2877, down 32.64 percent on the Nasdaq.