Brief: Baudax Bio Announces $11.9 Mln Registered Direct Offering
01/06/2021 03:59
June 1 (Reuters) - Baudax Bio Inc BXRX.O :
* BAUDAX BIO ANNOUNCES $11.9 MILLION REGISTERED DIRECT
OFFERING
* ENTERED INTO A DEFINITIVE AGREEMENT WITH CERTAIN
INSTITUTIONAL
INVESTORS FOR PURCHASE AND SALE OF COMMON STOCK AND WARRANTS
* TO PURCHASE UP TO 14 MILLION SHARES AT $0.85 PER SHARE AND
ACCOMPANYING WARRANT IN A REGISTERED DIRECT OFFERING
* WARRANTS HAVE AN EXERCISE PRICE OF $0.90 PER SHARE
* CLOSING OF OFFERING IS EXPECTED TO OCCUR ON OR ABOUT JUNE
1
* IN EVENT WARRANTS ARE EXERCISED IN FULL FOR CASH, CO
EXPECTS TO
RECEIVE APPROXIMATELY $12.6 MILLION IN ADDITIONAL GROSS PROCEEDS
* INTENDS TO USE NET PROCEEDS FROM OFFERING PARTLY FOR
COMMERCIALIZATION OF ANJESO, PIPELINE DEVELOPMENT ACTIVITIES
Source text for Eikon: ID:nGNXm8lcs
Further company coverage: BXRX.O
((Reuters.Briefs@thomsonreuters.com;))
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