NRX Pharmaceuticals, Inc. (NRXP): Nasdaq/NYSE listing notice — NRX Pharmaceuticals amends Streeterville note; receives Nasdaq MVLS delisting notice

NRX Pharmaceuticals, Inc.

Amendment #2 to $11.02M convertible note: $1.8M cash paid July 10, then $400K/month through Dec 2023, payable in cash or shares.
Company may pay redemption amounts in common stock even if Equity Conditions Failure exists; Streeterville waived prior defaults.
Nasdaq notified NRXP on July 20 that MVLS fell below $50M; 180-day cure period until Jan 22, 2024, for continued listing.
Redemption Premium continues on all payments; shareholder dilution possible from share conversions.

item 1.01 item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

NRX Pharmaceuticals, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A)

Exact text from the filing

July 20, 2023, the Company received a written notification (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with Nasdaq Listing Rule 5450(b)(2)(A) – Market Value of Listed Securities (“MVLS”) because the Company has not maintained a minimum MVLS of $50,000,000 for the last thirty-three (33) consecutive business days. Nasdaq’s Notice has no immediate effect on the listing of the common stock on The Nasdaq Global Market and, at this time, the common stock will continue to trade on The Nasdaq Global Market under the symbol “NRXP”. Pursua

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NRX Pharmaceuticals, Inc. amended Amendment #2 to Convertible Promissory Note with Streeterville Capital, LLC (effective 2023-07-07).

Action: amendment
Agreement: notes offering
Counterparty: Streeterville Capital, LLC
Effective: 2023-07-07

Exact text from the filing

On July 7, 2023, NRX Pharmaceuticals, Inc. (the “Company”) entered into Amendment #2 to Convertible Promissory Note (the “Second Amendment”), with Streeterville Capital, LLC (the “Streeterville”).

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NRX Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-085398

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