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Leading NAD+ company ChromaDex announces $25m raise

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LA-based company ChromaDex announces that it has entered into a securities purchase agreement for the sale of $25m of its common stock in a private placement.

ChromaDex‘s private placement was led by a new international investor and is expected to close on or about 23 February 2021, subject to the satisfaction of customary closing conditions. In connection with the investment, the NAD+ company agreed to sell 3,846,153 shares of its common stock at a per-share price of $6.50, for gross proceeds of approximately $25.0 million.

Longevity.Technology: At the end of last year, ChromaDex CEO Rob Fried told us ChromaDex has been building its team for commercial growth; the global bioscience company prides itself on its ethos of improving the way people age, and Tru Niagen is proving popular, counting Glow Girl influencer Melissa Meyers and Dancing With The Stars fitness queen Brooke Burke among its fans. Tru Niagen will also be featuring in our supplements report coming soon.

The net proceeds from the private placement are expected to provide ChromaDex with added resources to accelerate growth of the Tru Niagen® global brand, advance clinical research on NAD+ precursors, and support general corporate purposes.

 


 

“… this additional capital, we intend to further our position as the world’s leading NAD+ company …”

 


 

The shares of common stock being sold in the private placement will not have been registered under the Securities Act of 1933, as amended. Accordingly, such shares may not be offered or sold in the US except pursuant to an effective registration statement or an applicable exemption from the registration requirements under the Act. In connection with the private placement, ChromaDex expects to enter into a registration rights agreement with the investors.

NAD+ Chromadex HQ

Additional details about the transaction are included in a Current Report on Form 8-K filed by ChromaDex concurrently with this release. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer or sale would be unlawful prior to the registration or qualification under the securities laws of such state. Any offering of the securities under the resale registration statement will only be by means of a prospectus.

“With this additional capital, we intend to further our position as the world’s leading NAD+ company with expanded scientific research on nicotinamide riboside (NR) and other NAD+ precursors,” says ChromaDex CEO Rob Fried.

Eleanor Garth
Deputy Editor Now a science and medicine journalist, Eleanor worked as a consultant for university spin-out companies and provided research support at Imperial College London and various London hospitals in a former life.
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