NeuroBo Pharmaceuticals, Inc. announced that it has entered into definitive agreements for the issuance of 4,325,701 shares of its common stock at a price of $3.93 per share for the gross proceeds of $17,000,004.93 and Series A warrants to purchase 5,089,060 shares of Common Stock and Series B warrants to purchase up to 7,633,591 shares of Common Stock on June 23, 2024. Each Pre-Funded Warrant has an exercise price of $0.001 per share and common warrants at an exercise price of $3.93 per share. The transaction will include participation from returning investor, Dong-A ST Co.

Ltd. and other investors. The PIPE Securities are being issued to institutional accredited investors in a private placement pursuant to Section 4(a)(2) and Regulation D promulgated under the Securities Act of 1933, as amended. The transaction is expected to close on June 25, 2024.