NLS Pharmaceutics Ltd. (NLSP) Prices 4.82M Share IPO at $4.15/Sh

January 29, 2021 5:55 AM EST

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NLS Pharmaceutics Ltd. (NASDAQ: NLSP), a Swiss clinical-stage pharmaceutical company focused on the discovery and development of innovative therapies for patients with rare and complex central nervous system disorders, announces the pricing of its initial public offering of 4,819,277 units at a price of $4.15 per unit. Each unit consists of one common share and one warrant to purchase one common share (the "Warrants"). The common shares and Warrants are immediately separable from the units and will be issued separately. The common shares and Warrants have been approved for listing on the Nasdaq Capital Market under the symbols "NLSP" and "NLSPW," respectively, and are expected to begin trading on January 29, 2021. NLS expects to receive gross proceeds of approximately $20.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. The Warrants are exercisable immediately, expire five years from the date of issuance and will have an exercise price of $4.15 per share. The offering is expected to close on February 2, 2021, subject to customary closing conditions.

Maxim Group LLC is acting as book-running manager and Brookline Capital Markets, a division of Arcadia Securities, LLC is acting as co-manager for the offering. NLS has granted the underwriters a 45-day option to purchase up to an additional 722,891 common share and/or Warrants to purchase 722,891 common shares, or any combination thereof, to cover over-allotments, if any.

The offering is being conducted pursuant to the Company's registration statement on Form F-1 (File No. 333-236797) previously filed with and subsequently declared effective on January 28, 2021 by the Securities and Exchange Commission ("SEC").

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