NEXGEL raises ~$2M in registered direct offering of stock and warrants at $2.75/share

NEXGEL, INC.

Offering of 727,272 common shares and warrants to buy 363,636 shares at $4.25; gross proceeds ~$2M.
Warrants exercisable immediately, expire in 5 years; exercise price $4.25 per share.
Insiders (management & board) participated; subject to 180-day lock-up from closing.
Proceeds to increase inventory, marketing for Silly George, support receivables, and pursue acquisitions.
Alere Financial acted as exclusive placement agent; offering made under existing S-3 shelf.

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