23.6 C
New York
Saturday, May 28, 2022

Baudax Bio, Inc. (BXRX) Stock Plunged 56.17% Today, Here’s Why

Baudax Bio, Inc. (BXRX) stock plummeted 56.17% in the current-market trading session at the price of $1.92 after it announced the pricing of the proposed public offering of its common stock shares.


Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here. .

Sponsored


BXRX is a leading pharmaceutical firm that develops and commercializes innovative products for acute care. ANJESO is the first intravenous COX-2 preferential NSAID devised to manage mild to severe pain.

BXRX $10M Public Offering

On 24th February 2022, BXRX disclosed the pricing of its earlier announced public offering of common stock shares and warrants to buy a total of 3.5 million common stock shares. Each common stock share combined with one warrant is offered at a combined public price of US$2.85 per share. The exercise price of each warrant is US$3.25 per share. The offered warrants are exercisable instantly and will expire five years after the issuance.

Additionally, the company has offered the underwriter an option to buy additional common stock shares and warrants to purchase extra 5.2 lacs common stock shares at the public price. The company expects gross proceeds of $10.0M from the offering before subtracting underwriting discounts and other costs. The public offering will close on 1st March 2022 and is subject to customary closing conditions.

BXRX presently plans to utilize the net proceeds from the offering for its pipeline growth activities, commercialization of the ANJESO, and other corporate purposes. The shares and warrants had been offered under the registration statement (File # 333-253117) and declared effective on 2nd September 2021.

BXRX Announced Reverse Stock Split

Earlier on 15th February 2022, BXRX published the approval of a 1-for-35 reverse stock split of its common stock shares by its board of directors. The Reverse Stock Split became effective on 16th February 2022 at 12:01 a.m. E.T. The common stock will be available for trading on a post-split basis on NASDAQ under its current trading symbol BXRX.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles