NEXGEL said that noteholders will change about $14.125 million in debt into stock and bring in $1.2 million more.

Nov 13, 2026, 9:08 AM ETNew sharesRead the original at globenewswire.com

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NEXGEL says noteholders agreed to convert most of its debt, it secured new funding, and it has about $2.25 million in yearly cost savings. The conversion depends on a merger and other conditions, and stock and warrants may add shares.

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Turning most note debt into shares could ease repayment pressure if the merger and other conditions are met. Taking interest in shares and cutting costs by about $2.25 million a year may preserve cash. The stock-and-warrant financing may add shares, and the debt conversion is not complete.

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