- Trxade targeting all 24,000 independent pharmacies across the U.S., with total purchases of $93 billion a year
- Company’s online platform currently has about 11,500 pharmacies as registered users and grows by roughly 100 users every month
- Proceeds from IPO to be used as working capital and to fund future acquisitions
Business-to-business pharmacy services supplier Trxade Group Inc. (OTCQB: TRXD) intends to raise $5 million in an IPO of its common stock on Nasdaq, according to a Seeking Alpha report. The net proceeds will primarily be used as working capital and for general corporate purpose, as well as the possible acquisition of other companies, technology and products, the article says, underlining that the final amount raised under the IPO may differ (http://nnw.fm/RWl92).
Seeking Alpha also notes that Trxade Group is profitable and has grown from a small revenue base but warns against the risk of an unfocused approach given the company’s disparate operations that face tough competition. Trxade’s main focus is to operate an online pharmacy B2B marketplace for...
NOTE TO INVESTORS: The latest news and updates relating to TRXD are available in the company’s newsroom at http://nnw.fm/TRXD
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