$30 million Term Sheet from qualified lender for non-dilutive financing for first clinic acquisitions; anticipated closing within 60 days Executed Non-Binding Term Sheet with initial clinic partners generating annual revenue of over $10 million , with additional partners to be selected under this initial funding agreement Company projects annualized revenues of $100 million through continued acquisition by mid 2025 Additional information to be presented at upcoming HC Wainwright Annual Global Investment Conference in New York , September 9-11, 2024 MIAMI , Aug. 26, 2024 /PRNewswire/ -- HOPE Therapeutics, Inc., a wholly-owned subsidiary of NRx Pharmaceuticals, Inc.
(Nasdaq: NRXP ) ("HOPE," the "Company"), a medical and technology driven company, today announced signing a non-binding Term Sheet for non-dilutive, nonconvertible debt acquisition funding of its first interventional psychiatry clinics (ketamine clinic acquisitions), together with the signing of a Term Sheet for five currently operational clinics in the Western United States . In addition to the currently-signed non-binding Term Sheet, the Company has been offered non-binding lending commitments it believes are sufficient to assemble/acquire a network of operational clinics with revenues in excess of $100 million . The Company anticipates potential operations in the United States , France , and the United Kingdom.
The non-dilutive acquisition funding announced today is in addition to the over $60 million in potentia.