NEXGEL announces $1.11M registered direct offering of 444K shares and 222K warrants; insiders participate

NEXGEL, INC.

Gross proceeds of ~$1.11M from sale of 444K shares at $2.50/share and warrants exercisable at $4.25.
Insiders (board and management) purchased 27K units, subject to 180-day lock-up.
Net proceeds for working capital, including to support Silly George acquisition and inventory/marketing for higher demand.
Offering expected to close on or about August 14, 2024.
Placement agent Alere Financial receives 8% fee from non-affiliates, 4% from affiliates, plus 33,360-share warrant.

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