TRxADE Health scraps planned equity offering, shares down

Scienture Holdings

24/08/2022 14:20

** TRxADE Health Inc's  MEDS.O  shares down 9.1% at $1.20
premarket after drug procurement marketplace pulls planned
equity raise
    ** Co says current market conditions not conducive for an
offering on terms in best interests of its stockholders  urn:newsml:reuters.com:*:nACSh6N3Fa
    ** MEDS dropped >25% after hours on Tues when co commenced
offering without disclosing deal size (See prospectus filing https://www.sec.gov/Archives/edgar/data/1382574/000149315222023831/form424b5.htm)
    ** Shares have lost 44% in 2022 and 72% over past year
through Tues close
    ** Co has ~8.18 mln shares outstanding and ~3.34 mln of
public float, per Refinitiv data
    ** On Jul 25, co reported Q2 rev growth of 73% yr/yr to $3.3
mln and net loss of $1.1 mln  urn:newsml:reuters.com:*:nACSH7dmXa

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))