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NervGen Pharma Closes $9.2 Million Bought Deal Financing

MT Newswires ·  {{timeTz}}

10:46 AM EST, 11/12/2021 (MT Newswires) -- NervGen Pharma Corp. (NGEN.V), a clinical-stage biotech company, said Friday that it has completed a $9.2 million bought deal financing.

This included the full exercise of the underwriters' over-allotment option.

Under the offering, the underwriters bought, on a "bought deal" basis, and the company issued about 3.7 million units at $2.50 per unit. Each unit was comprised of one common share and one-half of one common share purchase warrant.

The company plans to use the net proceeds for the continued development of its lead drug candidate, NVG-291, and general corporate purposes.

The company's stock remained unchanged on lastl ook on Friday.

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