- Baudax Bio ( NASDAQ: BXRX ) stock plunges 34% in a premarket session after pricing public offering of 11,819,172 shares of its common stock together with accompanying common stock purchase warrants, at $0.525 per share, for gross proceeds of ~$6.2M.
- Each share of common stock (or pre-funded warrant) was sold in the offering together with a Series A-1 warrant to purchase one share of common stock at an exercise price of $0.525 per share and a Series A-2 warrant to purchase one share of common stock at an exercise price of $0.525 per share.
- The Series A-1 warrants are exercisable immediately and will expire five years from the date of issuance, and the Series A-2 warrants are exercisable immediately and will expire thirteen months from the date of issuance.
- Offering is expected to close on or about September 1, 2022.
- Net proceeds will be used for pipeline development activities and general corporate purposes.
For further details see:
Baudax Bio stock down after pricing $6.2M equity offering