NEUP (NASDAQ: NEUP) updates $11.49M at-the-market stock program
Rhea-AI Filing Summary
Nasdaq-listed company plans to sell up to $11,494,900 of common stock from time to time through an at-the-market offering agreement with H.C. Wainwright & Co. as sales agent.
This amendment updates the prospectus supplement to reflect the amount of stock the company may sell under General Instruction I.B.6 of Form S-3 and the existing Sales Agreement. As of September 9, 2025, public float was approximately $34,484,701, based on 2,283,755 non-affiliate shares at $15.10 per share, and the company has sold $5,352,879 of common stock under this instruction in the past 12 months.
Sales, if any, will be made as at-the-market offerings under Rule 415, with no minimum sale requirements, and Wainwright earning a 3.0% commission on gross sales while being deemed an underwriter under the Securities Act.
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FAQ
What is NEUP registering in this amended 424B5 filing?
The company is updating its prospectus supplement to permit sales of up to $11,494,900 of common stock through an at-the-market offering under an existing Sales Agreement with H.C. Wainwright & Co.
How will NEUP sell the common stock under this at-the-market program?
H.C. Wainwright & Co. will act as sales agent, using commercially reasonable efforts to sell shares in transactions deemed an at-the-market offering under Rule 415, with no minimum sale requirements and no escrow arrangement.
What is NEUP's current public float referenced in this amendment?
As of September 9, 2025, the company reports public float of approximately $34,484,701, based on 2,283,755 non-affiliate shares at a closing price of $15.10 per share.
How much stock has NEUP sold under Form S-3 General Instruction I.B.6 in the last 12 months?
Over the past 12 calendar months, the company has offered and sold an aggregate of $5,352,879 of its common stock pursuant to General Instruction I.B.6 of Form S-3.
What limits apply to NEUP's future primary offerings under this registration statement?
The company states it will not sell securities registered on this registration statement in a public primary offering with a value exceeding more than one-third of its public float in any 12-month period while its public float remains below $75.0 million.
On which market is NEUP's common stock listed and what was the recent price?
The company’s common stock is listed on the Nasdaq under the symbol "NEUP", and the last reported sale price on September 19, 2025 was $10.10 per share.
Filed pursuant to Rule 424(b)(5)
Registration No. 333-283306
AMENDMENT NO. 4, dated September 23, 2025
to PROSPECTUS SUPPLEMENT dated January 6, 2025
Up to $11,494,900
Common Stock
This Amendment No. 4 to Prospectus Supplement (this “Amendment”) amends and updates our prospectus supplement, dated January 6, 2025, filed with the Securities and Exchange Commission as part of our registration statement on Form S-3, File No. 333-283306 (the “Prospectus Supplement”). This Amendment should be read in conjunction with the Prospectus Supplement and the accompanying prospectus dated January 6, 2025 (the “Prospectus”), each of which are to be delivered with this Amendment, as well as any of our SEC filings which amend and update this Prospectus Supplement. This Amendment amends and/or updates only those sections of the Prospectus Supplement set forth in this Amendment; all other sections of the Prospectus Supplement remain unchanged. This Amendment is not complete without, and may only be delivered or utilized in connection with, the Prospectus Supplement, and any future amendments or supplements hereto or thereto.
We have entered into an At The Market Offering Agreement, or the Sales Agreement, with H.C. Wainwright & Co., LLC, or Wainwright, dated November 18, 2024. Under this Sales Agreement, as updated by this Amendment, we may offer and sell common stock having an aggregate offering price of up to $11,494,900 from time to time through Wainwright, acting as sales agent, in accordance with the Sales Agreement.
Sales of the common stock, if any, under this prospectus, as amended, may be made by any method permitted that is deemed an “at the market” offering as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, or the Securities Act. Wainwright may sell our common stock by any method permitted by law deemed to be an at-the-market offering as defined in Rule 415(a)(4) promulgated under the Securities Act. Wainwright is not required to sell any specific number or dollar amount of securities but will act as our sales agent using commercially reasonable efforts consistent with their normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of the Nasdaq, on mutually agreed terms between the Wainwright and us. There are no minimum sale requirements, and there is no arrangement for funds to be received in any escrow, trust or similar arrangement.
We are filing this Amendment to amend the Prospectus Supplement solely to update the amount of shares of common stock we are eligible to sell under General Instruction I.B.6 of Form S-3 and pursuant to the Sales Agreement. As of September 9, 2025, the aggregate market value of our common stock held by non-affiliates, or public float, was approximately $34,484,701 based on 2,283,755 non-affiliate shares of common stock outstanding, based on a closing price of $15.10 per share on September 9, 2025, which was the highest closing sale price of our common stock on the Nasdaq Global Market, the principal market for our common equity, within 60 days of the filing date of this registration statement, as amended. In the past 12 calendar months, we have offered and sold an aggregate of $5,352,879 of shares of our common stock pursuant to General Instruction I.B.6 of Form S-3. In no event will we sell securities registered on this registration statement in a public primary offering with a value exceeding more than one-third of our public float in any 12-month period so long as our public float remains below $75.0 million.
Wainwright will be entitled to a commission of 3.0% of the gross sales price per share sold under the Sales Agreement. See “Plan of Distribution” beginning on page S-11 of our prospectus supplement, dated January 6, 2025 for additional information regarding the compensation to be paid to Wainwright. In connection with the sale of the common stock on our behalf, Wainwright will be deemed to be an “underwriter” within the meaning of the Securities Act, and the compensation paid to Wainwright will be deemed to be underwriting compensation. We have also agreed in the Sales Agreement to provide indemnification and contribution to Wainwright with respect to certain liabilities, including liabilities under the Securities Act.
Our common stock is listed on the Nasdaq under the symbol “NEUP.” On September 19, 2025, the last reported sale price of our common stock on the Nasdaq was $10.10 per share.
INVESTING IN OUR COMMON STOCK INVOLVES A HIGH DEGREE OF RISK. BEFORE MAKING AN INVESTMENT DECISION, PLEASE READ THE INFORMATION UNDER THE HEADING “RISK FACTORS” BEGINNING ON PAGE S-6 OF THE PROSPECTUS SUPPLEMENT INCLUDED IN THIS REGISTRATION STATEMENT, AND IN THE DOCUMENTS INCORPORATED BY REFERENCE INTO THIS PROSPECTUS SUPPLEMENT.
Neither the Securities and Exchange Commission, any state securities commission, nor any other foreign securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement. Any representation to the contrary is a criminal offense.
H.C. Wainwright & Co.
The date of this Amendment No. 4 to prospectus supplement is September 23, 2025.