WestPark Capital Announces Completion of a $6.6 Million Public Offering for Nutriband Inc. (NASDAQ: NTRB) and Up-listing to the NASDAQ Capital Market
LOS ANGELES--(BUSINESS WIRE)--Nutriband Inc. (NASDAQ: NTRB) (NASDAQ: NTRBW), a company engaged in the development of pharmaceutical products, contract research and development services and the manufacture of transdermal products focused on preventing opioid abuse, announced that its common stock and warrants began trading on the Nasdaq Capital Market effective October 1, 2021.
Nutriband also announced the pricing of an underwritten public offering of 1,056,000 units of securities at a public offering price of $6.25 per unit for total gross proceeds of $6.6 million, before deducting underwriting discounts and commissions and other estimated offering expenses. Each unit consists of one share of common stock and one warrant. Each warrant is immediately exercisable, will entitle the holder to purchase one share of common stock at an exercise price of $7.50 and will expire five years from the date of issuance. The shares of common stock and Warrants may be transferred separately immediately upon issuance. In addition, Nutriband Inc. has granted the underwriters a 45-day option to purchase up to 158,400 additional shares of common stock and 158,400 additional warrants to cover over-allotments in this offering.
“Uplisting onto the Nasdaq Capital Market is a significant milestone in our evolution, and we believe will exponentially increase our corporate visibility and broaden the awareness of Nutriband amongst active market participants,” said Gareth Sheridan, CEO. “This achievement reflects the hard work of our outstanding team, and we look forward to continuing to execute on our strategic plan and growth initiatives as we build long term shareholder value.”
The shares and warrants began trading on The Nasdaq Capital Market on Friday, October 1, 2021, under the symbols “NTRB” and “NTRBW”, respectively.
WestPark Capital, Inc and WallachBeth Capital, LLC acted as the joint book-running managers for the offering.
About Nutriband Inc.
We are primarily engaged in the development of a portfolio of transdermal pharmaceutical products. Our lead product under development is an abuse deterrent fentanyl patch incorporating our AVERSA ® technology. Aversa is an abuse deterrent transdermal technology that incorporates aversive agents to prevent the abuse, diversion, misuse and accidental exposure of drugs with abuse potential, specifically opioids.
The Company’s website is www.nutriband.com. Any material contained in or derived from the Company’s websites or any other website is not part of this press release.
About WestPark Capital, Inc.
WestPark Capital is a full-service investment bank focused on emerging growth sectors such as healthcare, software, technology, biotechnology, financial services, manufacturing, consumer products, media and telecom industries, among other categories. WestPark Capital provides a comprehensive range of corporate finance services, including initial public offerings, follow-on offerings, ATMs, Registered Direct Offerings (RD), CMPOs, private placements, SIPOs and corporate finance advisory services. Additional information about WestPark Capital is available at www.wpcapital.com or by email at firstname.lastname@example.org.
WestPark Capital, Inc.
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