JERSEY CITY, N.J., Oct. 6, 2021 /PRNewswire/ -- WallachBeth Capital
LLC, a leading provider of capital markets and institutional
execution services, announced the completion of an underwritten
public offering of 1,056,000 units for Nutriband Inc.
(NASDAQ: NTRB) 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 and before any exercise of the underwriters' overallotment
option.
Each unit consists of one share of common stock (NASDAQ: NTRB)
and one warrant (NASDAQ: NTRBW). 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.
The shares and warrants began trading on The Nasdaq Capital
Market on Friday, October 1, 2021,
under the symbols "NTRB" and "NTRBW", respectively.
WallachBeth Capital, LLC and WestPark Capital, Inc acted as the
joint book-running managers for the offering.
About Nutriband Inc.
Nutriband Inc. is 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. Its lead product under development is an abuse
deterrent fentanyl patch incorporating its 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 WallachBeth Capital LLC
WallachBeth Capital offers a robust range of capital markets and
investment banking services to the healthcare community, connecting
corporate clients with leading institutions, creating value for
both issuers and investors. The firm's experience includes initial
public offerings, follow-on issues, PIPE offerings, and private
transactions. WallachBeth Capital is a leading provider of
institutional execution services, offering clients a full spectrum
of solutions to help them navigate increasingly complex markets.
The firm's website is located at www.wallachbeth.com.
This offering is being made pursuant to an effective
registration statement on Form S-1 (No. 333-259833) previously
filed with the U.S. Securities and Exchange Commission (the "SEC")
and declared effective by the SEC on October
1, 2021. A final prospectus describing the terms of the
proposed offering was filed with the SEC and may be obtained via
the SEC's website at
https://www.sec.gov/Archives/edgar/data/1676047/000121390021051452/ea148418-424b4_nutriband.htm
or from WallachBeth Capital, LLC, via email at
cap-mkts@wallachbeth.com
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
state or jurisdiction.
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SOURCE WallachBeth Capital LLC