NLS Pharmaceutics, which is developing controlled-release formulations of approved drugs for ADHD and narcolepsy, raised $20 million by offering 4.8 million units at $4.15, below the range of $5 to $6. The company offered 1.2 million more units than anticipated. Each unit consists of one share of common stock and one warrant, exercisable at $4.15. Because the company offered units with warrants attached, NLS Pharmaceutics will be excluded from Renaissance Capital's stats.
NLS Pharmaceutics plans to list on the Nasdaq under the symbol NLSP. Maxim Group LLC acted as a lead manager on the deal.
