NEXGEL raises ~$975k in registered direct offering led by insiders

NEXGEL, INC.

Offering consists of 462,090 shares and warrants to buy 231,040 shares at $4.00, priced at $2.11 per share.
Insiders including CFO and board members purchased 41,469 units; locked up for 180 days.
Gross proceeds ~$975k before expenses; proceeds for working capital and general corporate purposes.
Placement agent Alere Financial receives 6% fee on non-affiliate proceeds and 27,725 warrant shares.

Key facts

Extracted from this filing and checked against the source text.

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

NEXGEL, INC. entered into Subscription Agreements with investors, the Company's Chief Financial Officer and certain members of its board of directors valued at approximately $975 thousand (effective 2024-02-15).

Action: entry
Agreement: equity purchase
Counterparty: investors, the Company's Chief Financial Officer and certain members of its board of directors
Value: approximately $975 thousand
Effective: 2024-02-15

Exact text from the filing

On February 15, 2024, NexGel, Inc., a Delaware corporation (the “ Company ”), entered into subscription agreements (the “ Subscription Agreements ”) with investors, the Company’s Chief Financial Officer and certain members of its board of directors for the sale of by the Company of an aggregate of 231,040 units at a price to the public of $4.22 per unit

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NEXGEL, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-007399

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