Nocopi closes $3.5M private placement; 2.5M shares issued post reverse split

NOCOPI TECHNOLOGIES INC/MD/

Closed private placement of 2.5M shares of post-reverse-split common stock for gross proceeds of $3.5M.
No placement fees or commissions paid; proceeds for working capital, growth, and general corporate purposes.
Post transaction and 1:10 reverse split effective Sept 2, 2022, shares outstanding approx 9,249,505.
CEO Michael Feinstein cites increased cash, debt-free balance sheet, and enhanced board for growth opportunities.

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