NRx Pharmaceuticals’ spinoff of Hope Therapeutics enabled by arbitration order

NRx Pharmaceuticals announced the issuance of an order by a Utah arbitrator denying the petition of Streeterville Capital to enjoin NRx’s planned spinoff of 49% of the shares in Hope Therapeutics to current shareholders of NRx pharmaceuticals. While the proposed spinoff remains subject to compliance with certain requirements, the spinoff is intended to provide NRx shareholders with an opportunity to participate in the anticipated value created as a result of the spinoff and to enable a potential listing of Hope Therapeutics – currently a wholly-owned subsidiary of NRx – on a national securities exchange. The arbitrator also denied Streeterville’s petition to enjoin NRx from selling additional shares of NRx stock to finance ongoing operations.