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HOPE Therapeutics™, Inc. and NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Execute Agreement for $27 Million Funding Transaction for HOPE Clinic Acquisition
NRXPNRX Pharmaceuticals(NRXP) Prnewswire·2025-01-28 13:05

Core Viewpoint - HOPE Therapeutics, Inc. has signed a Stock Purchase Agreement with Smith & Sauer, LLC for a 27millionfinancingaimedatacquiringHOPEclinicstoaddressseverementalhealthissuessuchassuicidaldepressionandPTSD[1][2][3]FinancingDetails−Theagreementincludesanimmediatefundingof27 million financing aimed at acquiring HOPE clinics to address severe mental health issues such as suicidal depression and PTSD [1][2][3] Financing Details - The agreement includes an immediate funding of 2 million in NRx common stock and a commitment for an additional 25millioninSeriesAPreferredStock,withthefirsttrancheof25 million in Series A Preferred Stock, with the first tranche of 6.75 million due by February 7, 2025, and the full amount by April 1, 2025 [1][5] - The investment is expected to be leveraged with bank debt to initiate a nationwide rollup of Interventional Psychiatry Clinics, targeting projected revenues of approximately 100millionbytheendof2025[2][3]StrategicGoals−HOPEaimstocreateanationwidechainofclinicsthatcombineketaminetreatment,TranscranialMagneticStimulation(TMS),andFDA−approvedDigitalTherapeuticstoprovidecomprehensivecareforpatientswithlife−threateningmentalhealthconditions[2][3][8]−Thecompanyhasinitiatedafinancialadvisoryrelationshipwithaleadinginvestmentbanktoraiseanadditional100 million by the end of 2025 [2][3] Strategic Goals - HOPE aims to create a nationwide chain of clinics that combine ketamine treatment, Transcranial Magnetic Stimulation (TMS), and FDA-approved Digital Therapeutics to provide comprehensive care for patients with life-threatening mental health conditions [2][3][8] - The company has initiated a financial advisory relationship with a leading investment bank to raise an additional 400 million for expanding its national and international presence [3] Market Focus - The partnership with Smith & Sauer emphasizes addressing mental health challenges, particularly within military and veteran communities, highlighting the importance of innovative and accessible mental health solutions [4][7] - HOPE Therapeutics is positioned to serve the 16 million Americans who contemplate suicide annually and the 45 million who suffer from depression and PTSD [3][4] Company Background - HOPE Therapeutics is a development stage healthcare delivery company focused on establishing a network of interventional psychiatry clinics [8] - NRx Pharmaceuticals, the parent company, is a clinical-stage biopharmaceutical firm developing therapeutics for central nervous system disorders, including suicidal bipolar depression and PTSD [9][10]