Nocopi enters $3.5M private placement at $1.40/share; approves 1-for-10 reverse split

NOCOPI TECHNOLOGIES INC/MD/

Issues 2.5M shares to two investors at $1.40/share (adjusted for reverse split); priced at ~$0.14 VWAP pre-split.
Gross proceeds of $3.5M; no placement fees or commissions incurred.
Closing subject to reverse stock split becoming effective and other conditions; any purchaser may terminate if not closed by Sep 15, 2022.
1-for-10 reverse stock split effective Aug 26, 2022; fractional shares rounded up to whole shares.
Registration rights agreement requires filing of registration statement by Aug 1, 2023.

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