NRx Pharma closes $5.435M second tranche of secured notes; cancels third tranche

NRX Pharmaceuticals, Inc.

On Oct 10, 2024, closed second tranche: $5.435M principal amount of Senior Secured Convertible Notes (purchase price ~$5.0M) and warrants for 1,846,128 shares.
Proceeds to repay existing variable priced convertible notes and for general working capital.
Conversion price is lower of $1.7664 or 92% of lowest 7-day VWAP prior to conversion date.
Company and investor mutually agreed not to proceed with the third $5.435M tranche.
Placement agent EF Hutton receives 7% cash fee and up to $50,000 expense reimbursement.

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