ZURICH, Dec. 4, 2024
/PRNewswire/ -- NLS Pharmaceutics Ltd. (Nasdaq: NLSP) (Nasdaq:
NLSPW) ("NLS" or the "Company"), a Swiss clinical-stage
biopharmaceutical company focused on the discovery and development
of innovative therapies for patients with rare and complex central
nervous system disorders, today announced the pricing of a private
placement offering consisting of the issuance and sale of up to
322,580 common shares only, par value CHF
0.80 per share, at a purchase price of $3.10 per common share, for aggregate gross
proceeds of up to $1.0 million,
subject to shareholder approval. The initial closing of the
offering in the amount of $500,000 is
expected to occur on or before January 10,
2025, and the subsequent closing of $500,000 may occur, at the election of the
purchaser, within 15 days following the Company meeting certain
conditions, including the receipt of shareholder approval and the
Company's common shares trading for at least ten consecutive
trading days above the purchase price of $3.10 which corresponds to an approx. 15%
premium.
The Company intends to use the net proceeds from the offering
for general corporate purposes.
The securities described above were offered pursuant to an
exemption from the registration requirements under Section 4(a)(2)
of the Securities Act of 1933, as amended (the "Securities Act"),
and Rule 506(b) of Regulation D promulgated thereunder. The
securities have not been registered under the Securities Act or
applicable state securities laws. Accordingly, the securities may
not be offered or sold in the United
States except pursuant to an effective registration
statement or an applicable exemption from the registration
requirements of the Securities Act and such applicable state
securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About NLS Pharmaceutics Ltd.
NLS is a global development-stage biopharmaceutical company,
working with a network of world-class partners and internationally
recognized scientists, focused on the discovery and development of
innovative therapies for patients with rare and complex central
nervous system disorders who have unmet medical needs.
Headquartered in Switzerland and
founded in 2015, NLS is led by an experienced management team with
a track record of developing and commercializing product
candidates. For more information, please visit
www.nlspharma.com.
Safe Harbor Statement
This press release contains expressed or implied forward-looking
statements pursuant to U.S. Federal securities laws, including
statements related to the timing and completion of the offering,
the satisfaction of customary closing conditions related to the
offering and the intended use of proceeds therefrom. For example,
the Company is using forward-looking statements when discussing the
potential subsequent closing of the offering. These forward-looking
statements and their implications are based on the current
expectations of the management of NLS only and are subject to a
number of factors and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. Except as otherwise required by law, NLS undertakes no
obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events. More detailed information about the risks and uncertainties
affecting NLS is contained under the heading "Risk Factors" in
NLS's annual report on Form 20-F for the year ended December 31, 2023 filed with the Securities and
Exchange Commission, or SEC, which is available on the SEC's
website, www.sec.gov, and in subsequent filings made by NLS
with the SEC.
Contact:
Investor Relations Contact
InvestorRelations@nls-pharma.com
www.nlspharma.com
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SOURCE NLS Pharmaceutics Ltd.
