NRXP subsidiary HOPE signs $27M term sheet with Smith & Sauer; $25M preferred equity, $2M common

NRX Pharmaceuticals, Inc.

Smith & Sauer to purchase $25M Series A Preferred in HOPE convertible into 1/3 of fully diluted equity, with 15% dividend.
$2M purchase of NRXP common at $2.75/share (above recent close); investor also buys 500K shares from existing holders at $2.75.
Warrants for 3M NRXP shares at $3.00/sh with 24-month term, plus royalties on product sales up to $250M cumulative return.
Smith & Sauer gets board seats at both HOPE and NRXP; funding to support clinic acquisitions and NRX-100/NRX-101 development.
Closing subject to definitive agreements and standard conditions.

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