RE:BXRX.... RS then P.O....don't miss the "Fire Sale"Iseneschal wrote:
Baudax Bio Announces Pricing of $10.0 Million Public Offering
2022-02-24 20:23 PT - News Release
MALVERN, Pa., Feb. 24, 2022 (GLOBE NEWSWIRE) -- Baudax Bio, Inc. (the "Company" or "Baudax Bio") (NASDAQ: BXRX), a pharmaceutical company focused on commercializing and developing innovative products for acute care settings, announced the pricing of its previously announced underwritten public offering of 3,508,772 shares of common stock (or common stock equivalents), together with warrants to purchase up to an aggregate of 3,508,772 shares of common stock (the "Offering"). Each share of common stock (or common stock equivalent) is being sold together with one warrant to purchase one share of common stock at a combined public offering price of $2.85 per share of common stock and accompanying warrant, less the underwriting discounts and commissions. The warrants have an exercise price of $3.25 per share, are exercisable immediately, and will expire five years following the date of issuance. The Offering is expected to close on or about March 1, 2022, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the sole book running manager for the Offering.
Here is the Reverse Split NR:
Baudax Bio Announces 1-for-35 Reverse Stock Split
2022-02-15 17:30 ET - News Release
MALVERN, Pa., Feb. 15, 2022 (GLOBE NEWSWIRE) -- Baudax Bio, Inc. (NASDAQ:BXRX) a pharmaceutical company focused on commercializing and developing innovative products for acute care settings, today announced that the Company's Board of Directors has approved a 1-for-35 reverse stock split of its common shares (the "Reverse Stock Split"). The Reverse Stock Split will become effective at 12:01 a.m. Eastern time on February 16, 2022 and the Company's common stock will open for trading on The Nasdaq Capital Market on a post-split basis under the Company's existing trading symbol "BXRX". At such time, the Company's common stock will also commence trading under a new CUPSIP number, 07160F206.
Baudax Bio expects that the Reverse Stock Split, which was approved by shareholders at a special shareholder meeting on February 9, 2022 will increase the market price per share of the Company's common stock, bringing the Company into compliance with listing requirements of the $1.00 minimum bid price requirement by The Nasdaq Capital Market.
At the effective time of the Reverse Stock Split, every thirty-five (35) shares of Baudax Bio's issued and outstanding common stock will be automatically converted into one (1) issued and outstanding share of common stock without any change in the par value of $0.01 per share. This will reduce the Company's number of shares of outstanding common stock from approximately 101.6 million shares to approximately 2.9 million shares. Proportional adjustments will be made to the number of shares of common stock issuable upon exercise of the Baudax Bio's outstanding stock options, restricted stock units, and warrants, as well as the applicable exercise price.