NLS Pharmaceutics Ltd. and Kadimastem Ltd. Announce the Initial Closing of $500,000 of the Previously Announced $1 Million Fundraising by NLS Following its Extraordinary General Meeting at a Share Price of $3.10, Representing 48% Above the Market Share

ZURICH and NESS ZIONA, Israel, Jan. 8, 2025 /PRNewswire/ -- NLS Pharmaceutics Ltd. ("NLS") (Nasdaq: NLSP), a Swiss clinical-stage biopharmaceutical company focused on the discovery and development of innovative therapies for rare and complex central nervous system disorders, and Kadimastem Ltd. ("Kadimastem") (TASE: KDST), a clinical-stage cell therapy company developing and manufacturing "off-the-shelf" allogeneic cell products for the treatment of neurodegenerative diseases and potential cure of diabetes, announce the successful completion of the initial closing of $500,000 of the previously announced $1 million financing between NLS and an accredited investor under a securities purchase agreement dated December 4, 2024, with the approval of certain items in NLS's extraordinary general meeting on January 7, 2025. As previously detailed in NLS's Report on Form 6-K submitted to the Securities and Exchange Commission on December 4, 2024, this agreement involved no warrants and was executed at a share price of $3.10, representing 48% above the NLS market closing share price as of Jan 6, 2025, the last trading day prior to the date of the NLS's extraordinary general meeting.

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