NRx Pharmaceuticals to purchase 3M shares of preferred stock at 40c per share

NRx Pharmaceuticals announced that it entered into a definitive purchase agreement subject to standard closing conditions with accredited investors to purchase 3M shares of preferred stock at 40c per share, which will convert, after six months into 3M common shares and 3M warrants to purchase common stock at a purchase price of 40c per share; the term on these warrants is five years. These shares may also be converted to common shares at the investor’s option should the closing share price of NRx common stock reach $1.20 per share during the six-month period.