Jupiter Neurosciences enters agreements for up to $20M in financing

Jupiter Neurosciences (JUNS) entered into two strategic financing agreements with an affiliate of Yorkville Advisors Global, providing JUNS with the potential to access up to $20M in capital, subject to certain conditions and limitations. The Financing includes: A $6M pre-paid advance, with an initial $4M advance funded at signing, on October 24, 2024 and evidenced by a convertible promissory note with a fixed conversion price of $1.50; and An additional $14M available under the standby equity purchase agreement, which the Company may use at its discretion over 24 months after signing, subject to an effective registration statement. JUNS intends to use the proceeds from these facilities primarily to support the Phase 2 trial of its lead asset – JOTROL, a resveratrol delivery platform for the treatment of Parkinson’s disease and to accelerate direct-to-consumer marketing and sales growth of its recently launched nutritional product line Nugevia. The Company will also use proceeds from the Financing for working capital and other general corporate purposes.