TRxADE Health tanks on stock offering launch

Scienture Holdings

23/08/2022 21:34

** TRxADE Health Inc's  MEDS.O  shares down ~25% post-market
as drug procurement marketplace looks to raise equity
    ** Co after the bell commences stock offering for general
corp purposes; deal size not disclosed (See prospectus filing https://www.sec.gov/Archives/edgar/data/1382574/000149315222023831/form424b5.htm)
    ** EF Hutton, division of Benchmark Investments, sole
bookrunner
    ** Shares closed down 2.9% at $1.32 on Tues, extending YTD
loss to 44%
    ** 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))