WallachBeth Capital Announces Completion of a $6.6 Million Underwritten Public Offering for Nutriband Inc. (NASDAQ: NTRB) and Up-listing to the NASDAQ Capital Market

JERSEY CITY, N.J., Oct. 6, 2021 /PRNewswire/ -- WallachBeth Capital LLC, a leading provider of capital markets and institutional execution services, announced the completion of an underwritten public offering of 1,056,000 units for Nutriband Inc. (NASDAQ: NTRB) at a public offering price of $6.25 per unit for total gross proceeds of $6.6 million, before deducting underwriting discounts and commissions and other estimated offering expenses and before any exercise of the underwriters' overallotment option.

Each unit consists of one share of common stock (NASDAQ: NTRB) and one warrant (NASDAQ: NTRBW). Each warrant is immediately exercisable, will entitle the holder to purchase one share of common stock at an exercise price of $7.50 and will expire five years from the date of issuance. The shares of common stock and warrants may be transferred separately immediately upon issuance. In addition, Nutriband Inc. has granted the underwriters a 45-day option to purchase up to 158,400 additional shares of common stock and 158,400 additional warrants to cover over-allotments in this offering.

The shares and warrants began trading on The Nasdaq Capital Market on Friday, October 1, 2021, under the symbols "NTRB" and "NTRBW", respectively.

WallachBeth Capital, LLC and WestPark Capital, Inc acted as the joint book-running managers for the offering.

About Nutriband Inc.

Nutriband Inc. is a company engaged in the development of pharmaceutical products, contract research and development services and the manufacture of transdermal products focused on preventing opioid abuse.  Its lead product under development is an abuse deterrent fentanyl patch incorporating its AVERSA® technology. Aversa is an abuse deterrent transdermal technology that incorporates aversive agents to prevent the abuse, diversion, misuse and accidental exposure of drugs with abuse potential, specifically opioids.

The Company's website is www.nutriband.com. Any material contained in or derived from the Company's websites or any other website is not part of this press release.

About WallachBeth Capital LLC

WallachBeth Capital offers a robust range of capital markets and investment banking services to the healthcare community, connecting corporate clients with leading institutions, creating value for both issuers and investors. The firm's experience includes initial public offerings, follow-on issues, PIPE offerings, and private transactions. WallachBeth Capital is a leading provider of institutional execution services, offering clients a full spectrum of solutions to help them navigate increasingly complex markets. The firm's website is located at www.wallachbeth.com.

This offering is being made pursuant to an effective registration statement on Form S-1 (No. 333-259833) previously filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective by the SEC on October 1, 2021. A final prospectus describing the terms of the proposed offering was filed with the SEC and may be obtained via the SEC's website at https://www.sec.gov/Archives/edgar/data/1676047/000121390021051452/ea148418-424b4_nutriband.htmor from WallachBeth Capital, LLC, via email at cap-mkts@wallachbeth.com

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.

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SOURCE WallachBeth Capital LLC