secwatch.observer — SEC 8-K summary
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Issuer:     NRX Pharmaceuticals, Inc. (NRXP)
CIK:        0001719406
Form:       8-K
Filed at:   2022-11-09T23:59:59+00:00
Accession:  0001104659-22-116578
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.03, 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NRx Pharmaceuticals closes $11M unsecured debt financing from Streeterville Capital for Phase 3 trials
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- Secured $11M unsecured note from Streeterville Capital; net proceeds ~$10M after $1M OID and fees.
- Note bears 9% interest, 18-month maturity; monthly redemptions up to $1M starting May 2023.
- Redemptions may be paid in cash or common stock at 85% of VWAP; Company must reserve 45M shares.
- Proceeds will fund Phase 3 trial of NRX-101 for suicidal bipolar depression and PTSD.
- Note includes participation right for Streeterville on future debt issuances and most-favored-nation clause.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1719406/000110465922116578/0001104659-22-116578-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1719406/000110465922116578/tm2230161d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-116578

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