Baudax Bio Announces Pricing Of $6.2 Mln Public Offering

(RTTNews) - Baudax Bio Inc. (BXRX) announced the pricing of its public offering of an aggregate of 11.82 million shares of its common stock, together with accompanying common stock purchase warrants, at a public offering price of $0.525 per share and accompanying warrants.

Each share of common stock 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.

The closing of the offering is expected to occur on or about September 1, 2022.

The company expects the gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, to be about $6.2 million. It plans to use the net proceeds from this offering for pipeline development activities and general corporate purposes.