Priced $6.2 million offering. Late Monday, Baudax announced the pricing of its public offering. The offering of 11.819 million shares of common or pre-funded warrants at a public offering price of $0.525 per share were sold as a unit. Each share or warrant unit included a Series A-1 warrant to purchase one share at $0.525, and a Series A-2 warrant to purchase one share at $0.525. The Series A-1 warrant is exercisable immediately with a 5 year expiration, while the Series A-2 warrant expires 13 months from date of issuance. The gross proceeds of the offering, expected to close on or about September 1st, are around $6.2 million. Baudax intends to use the net proceeds from the offering for pipeline development activities and general corporate purposes.Pricing is at depressed levels. While funding needs were anticipated, the Baudax offering of common shares and warrants are coming near all-time lows. The common stock price, at the $0.525 offering level, has declined 31% since the Q2 financials were released August 11th. Read More >>