- TRxADE Health ( NASDAQ: MEDS ) has entered into a securities purchase pact with a single institutional investor to purchase ~$1.8M of its common stock in a registered direct offering and warrants in a concurrent private placement.
- The combined effective purchase price for one share of common stock and associated warrants will be $1.15.
- Per the terms, TRxADE has agreed to sell 1,521,740 shares of common stock.
- Concurrently with the offering, a private placement which will be consummated, TRxADE also has agreed to issue warrants to purchase up to an aggregate of 2,663,045 shares of common stock.
- The warrants will be exercisable upon receipt of shareholder approval of the offering, will expire 5 years from the date of such shareholder approval and will have an exercise price of $1.50 per share of common stock.
- Offering is expected to close on or about October 7, 2022.
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Shares are up 1.74% after-hours.
For further details see:
TRxADE Health prices of $1.8M stock offering