NexGel prices 413,044 shares at $2.30 in registered direct offering

NEXGEL (NXGL) has entered into definitive agreements for the issuance and sale of an aggregate of 413,044 shares of its common stock at $2.30 a share. In a concurrent private placement, NEXGEL also agreed to issue to the investors in the registered direct offering unregistered warrants to purchase up to an aggregate of 206,522 shares of common stock. The Unregistered Warrants will have an exercise price of $4.25 per share and are exercisable immediately upon issuance with a term of five years from the date of issuance. Alere Financial Partners, a division of Cova Capital Partners acted as the exclusive placement agent for the offering.