NexGel Announces $950,000 Registered Direct Offering and Private Placement.

NEXGEL, Inc. has announced a $950,000 registered direct offering and concurrent private placement, issuing 413,044 shares of common stock at $2.30 per share. The company also agreed to issue unregistered warrants to purchase up to 206,522 shares of common stock at an exercise price of $4.25 per share. The registered direct offering and private placement are expected to close on August 4, 2025.

NEXGEL, Inc. (NASDAQ: NXGL), a leading provider of medical and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels, has announced a $950,000 registered direct offering and a concurrent private placement. The company will issue 413,044 shares of common stock at $2.30 per share. Additionally, NEXGEL has agreed to issue unregistered warrants to purchase up to 206,522 shares of common stock at an exercise price of $4.25 per share. The unregistered warrants are exercisable immediately upon issuance with a five-year term. The registered direct offering and private placement are expected to close on August 4, 2025.

The financing will strengthen NEXGEL's balance sheet and provide additional working capital as the company prepares for anticipated high growth in the second half of the year. The company's CEO, Adam Levy, commented, "This financing, combined with our current cash position and the recent $1 million non-dilutive advance from STADA, significantly strengthens our balance sheet and provides sufficient additional working capital as we enter a period of anticipated high growth for the second half of the year."

Alere Financial Partners, LLC, a division of Cova Capital Partners, LLC, acted as the exclusive placement agent for the offering. The shares offered in the registered direct offering are being offered pursuant to the Company's shelf registration statement on Form S-3 (File No. 333-264282) previously filed with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended, which was declared effective by the SEC on June 7, 2023.

References:
[1] https://finance.yahoo.com/news/nexgel-announces-950-000-registered-120000098.html
[2] https://www.stocktitan.net/news/NXGL/nexgel-announces-950-000-registered-direct-offering-and-concurrent-ih2ppbsnffms.html