---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-000801"
form_type: "8-K"
ticker: "NRXP"
cik: "0001719406"
company_name: "NRX Pharmaceuticals, Inc."
filed_at: "2025-01-10T23:59:59+00:00"
generated_at: "2026-05-28T05:19:03.304324+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-25-000801
- form_type: 8-K
- ticker: NRXP
- cik: 0001719406
- company_name: NRX Pharmaceuticals, Inc.
- filed_at: 2025-01-10T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1719406/000143774925000801/0001437749-25-000801-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1719406/000143774925000801/nrxp20250109_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-000801
- JSON: https://secwatch.observer/filing/0001437749-25-000801.json
- Plain text: https://secwatch.observer/filing/0001437749-25-000801.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.