NRX Pharmaceuticals (NRXP) said Thursday that its Hope Therapeutics unit signed a $7.8 million term sheet with Universal Capital.
The proceeds will fund Hope's planned rollup of interventional psychiatry clinics, starting with the acquisitions of Dura Medical, Kadima and NeuroSpa, according to the company.
Hope expects to raise up to $10.3 million in capital from the proceeds of the term sheet and a previously announced investment.
Shares of NRX Pharmaceuticals were down 2% in recent trading.
Price: 2.23, Change: -0.04, Percent Change: -1.98
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.