May 11, 2026 · Form 4 insider transaction
Kieser Brian Joseph bought 1,666,667 shares of NEXGEL, Inc. at $0.60 per share, a transaction worth $1.00M. The trade was recorded as open-market purchase and disclosed on an SEC Form 4, filed 7 days after the transaction.
Reflects the issuance to the Reporting Person of (i) a Convertible Promissory Note in the original principal amount of $1,000,000 (the "Note") and (ii) a Warrant to Purchase Common Stock for 833,334 shares of the Issuer's common stock (the "Common Stock") (the "Warrant"). The Note is convertible into up to 1,666,667 shares of Common Stock at an initial conversion price of $0.60 per share, and the Warrant is exercisable for 833,334 shares of Common Stock at an initial exercise price of $0.80 per share. The Note is convertible, and the Warrant is exercisable, at any time at the option of the holder, subject to (i) a beneficial-ownership limitation that prevents conversion or exercise to the extent the holder, together with its affiliates, would beneficially own more than 4.99% of the outstanding shares of Common Stock after such conversion or exercise, and (ii) certain other limitations set forth in the Note and Warrant.