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.