NexGel, Inc.Announces Nasdaq Listing and Price of $ 14.2 Million Initial Public Offering


LANGHORNE, Pennsylvania., December 21, 2021 / PRNewswire / – NexGel, Inc. (“NexGel” or the “Company”) (Nasdaq: NXGL, NXGLW), A manufacturer of high-water electron beam crosslinked aqueous polymer hydrogels or gels used in wound care, medical diagnostics, transdermal drug delivery and cosmetics, today announced the award of its initial public offering of 2,585,000 ordinary shares and the accompanying warrants to purchase up to 2,585,000 ordinary shares. Each common share is sold with a warrant to purchase one common share with an exercise price of $ 5.50 per share at a combined offer price of $ 5.50, for a gross product of approximately $ 14.2 million, before deduction of subscription discounts and offering fees. In addition, NexGel has granted the underwriters a 45-day option to purchase up to 387,750 additional common shares and / or warrants to purchase 387,750 common shares to cover the over-allotments at the initial public offering price, less the subscription reduction.

Common shares and warrants are expected to begin trading on the Nasdaq Capital Market on 22 December 2021, under the symbols “NXGL” and “NXGLW”, respectively. The offer is expected to close on December 27, 2021, subject to the satisfaction of the usual closing conditions.

The Company intends to use the net proceeds of the offering for general corporate purposes, including the marketing and development of their gels, consumer products, NEXDrape and other product initiatives, the fund of turnover, operating expenses and capital expenses. A portion of the net proceeds may also be used to finance potential acquisitions or other strategic investments, although NexGel does not currently have any commitments or agreements to complete such acquisitions or make such investments.

Maxim Group LLC is acting as the sole accounting manager in connection with the offer.

A registration statement on Form S-1 (File Nos. 333-260897 and 333-261821) has been filed with the Securities and Exchange Commission (“SEC”), which came into effect on December 21, 2021. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. The offer is being made only by means of a prospectus which forms part of the actual registration statement. Electronic copies of the prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, at (212) 895-3745. Before investing in this offering, interested parties should read the entire registration statement that the Company has filed with the SEC, which provides additional information about the Company and this offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal. before registration or qualification. under the securities laws of any such state or jurisdiction.

About NexGel, Inc.

NEXGEL is a leading supplier of ultra-soft, high water content hydrogels for healthcare and consumer applications. Situated at Langhorne, Pennsylvania., the company has developed and manufactured electron beam crosslinked hydrogels for more than two decades. Alongside its strategic partners, NEXGEL has formulated over 200 different combinations to bring natural ingredients to soft skin patches that can be worn for long periods of time with little to no irritation.

Forward-looking statements

This press release contains forward-looking statements, including with respect to the expected closing of the Company’s initial public offering and the use of the proceeds. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including market and other conditions and that the conditions for closing the initial public offering may not be met. The Company does not undertake to update these forward-looking statements after the date hereof to comply with actual results or changes in expectations, except as required by law.

Investor contacts:
Valter pinto / Nick staab
KCSA strategic communication
212.896.1254 / 212.896.1254
[email protected] / [email protected]

SOURCE NEXGEL


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