Nemaura Medical Inc. announced that it has entered into a securities purchase agreement for private placement of a an aggregate of 4,796,206 shares of Common Stock at an exercise price per share of $2.00 for gross proceeds of $8.4 million on January 27, 2023. The Company is also selling to the Purchasers warrants to purchase an aggregate of 4,796,206 shares of Common Stock at an exercise price per share of $2.00 (the “Warrants”). The Warrants will be exercisable at the later of the effective date of shareholder approval or six months following the issue date and will expire five years and six months following the issuance date.

EF Hutton, division of Benchmark Investments, LLC, acted as the sole placement agent