HOPE Therapeutics, Inc. and NRx Pharmaceuticals, Inc. announced the signing of a Stock Purchase Agreement (SPA) with Smith & Sauer, LLC, initiating a $27.0 million financing. This funding is designated to support the planned acquisition of HOPE clinics.
The agreement includes an immediate $2.0 million investment in NRx common stock and a commitment from Smith & Sauer to purchase an additional $25 million in newly issued Series A Preferred Stock of HOPE. The first $6.75 million tranche of the $25 million is committed by February 7, 2025, with the full amount committed by April 1, 2025.
The company anticipates leveraging this investment with bank debt and similar instruments to fund a nationwide rollup of Interventional Psychiatry Clinics. This strategy aims to achieve approximately $100 million in pro-forma revenues for the HOPE network by the end of 2025, focusing on best-in-class facilities combining various advanced treatments.
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