Nanoviricides files $4 million at-the-market stock offering with D. Boral Capital
The clinical-stage antiviral company registered a prospectus supplement dated July 17, 2026 to sell up to $4,018,069 in common stock through an at-market sales agreement.
Nanoviricides, Inc. filed a prospectus supplement dated July 17, 2026 covering the potential sale of up to $4,018,069 of common stock. The company entered into an At Market Issuance Sales Agreement with D. Boral Capital LLC, dated July 17, 2026, covering shares of common stock offered under this prospectus supplement.1 Sales may be made under any method that qualifies as an "at the market offering" under Rule 415, with D. Boral acting as sales agent using commercially reasonable efforts but with no obligation to sell any set amount.1
D. Boral's pay is tied to volume: the firm will receive a commission of 2% of the gross sales price per share on all shares sold under the agreement.1 Because of this arrangement, D. Boral will be treated as an "underwriter" under the Securities Act, with its commissions counted as underwriting discounts.1
The company's stock trades on NYSE American under "NNVC." As of July 10, 2026, Nanoviricides had 22,982,816 shares outstanding, and the filing models an increase to as many as 25,643,789 shares if 2,660,973 shares are sold at an assumed $1.51 price, the July 10 closing level.1
On dilution, the company's net tangible book value as of March 31, 2026 was about $8,841,378, or $0.41 per share.1 After modeling the full $4,018,069 raise at $1.51 per share and subtracting estimated offering costs, adjusted net tangible book value would rise to about $12,654,068, or $0.52 per share, an increase of roughly $0.11 per share, while new investors would face immediate dilution of about $0.99 per share.1
Proceeds are earmarked broadly. The company said it expects to use net proceeds for general corporate needs such as working capital, capital spending, and research, development and clinical trial costs, without yet specifying amounts for each purpose.1
On the audit side, EisnerAmper LLP audited the company's balance sheets as of June 30, 2025 and 2024, and its report flagged substantial doubt about the company's ability to continue operating as a going concern.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.