Baudax Bio Announces Proposed Public Offering of Securities
Baudax Bio (NASDAQ: BXRX) has initiated a proposed underwritten public offering of its common stock and warrants. The offering is intended to raise funds for the commercialization of ANJESO, pipeline development, and general corporate purposes. The offering is subject to market conditions, and a preliminary prospectus has been filed with the SEC. H.C. Wainwright & Co. is acting as the sole book-running manager. The company emphasizes that there is no assurance of completion or specific terms of the offering.
- Funds will support the commercialization of ANJESO and pipeline development.
- Offering allows for potential expansion and growth opportunities.
- The offering could lead to shareholder dilution if additional shares are issued.
MALVERN, Pa., Feb. 24, 2022 (GLOBE NEWSWIRE) -- Baudax Bio, Inc. (the “Company” or “Baudax Bio”) (NASDAQ: BXRX), a pharmaceutical company focused on commercializing and developing innovative products for acute care settings, announced it has commenced a proposed underwritten public offering of shares of common stock (or common stock equivalents), together with warrants to purchase its shares of common stock (the “Offering”). In addition, the Company intends to grant the underwriter an option to purchase additional shares and/or warrants at the public offering price, less the underwriting discounts and commissions. All of the shares of common stock (or common stock equivalents) and warrants to be sold in the Offering are to be offered by the Company. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.
The Company currently intends to use the net proceeds from this offering for the commercialization of ANJESO, pipeline development activities, and general corporate purposes.
H.C. Wainwright & Co. is acting as the sole book running manager for the proposed Offering.
The securities described above are being offered pursuant to an effective “shelf” registration statement (File No. 333-253117) that was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective by the SEC on September 2, 2021. The securities may be offered only by means of a prospectus supplement and an accompanying base prospectus. A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed Offering has been filed with the SEC. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the Offering is available on the SEC’s website located at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (646) 975-6996 or emailing placements@hcwco.com.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Baudax Bio
Baudax Bio is a pharmaceutical company focused on commercializing and developing innovative products for acute care settings. ANJESO is the first and only 24-hour, intravenous (IV) COX-2 preferential non-steroidal anti-inflammatory (NSAID) for the management of moderate to severe pain. In addition to ANJESO, Baudax Bio has a pipeline of other innovative pharmaceutical assets including two novel neuromuscular blocking agents (NMBs) and a proprietary chemical reversal agent specific to these NMBs. For more information, please visit www.baudaxbio.com.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements reflect Baudax Bio’s expectations about its future performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate,” “believe,” “estimate,” “may,” “upcoming,” “plan,” “target,” “goal,” “intend” and “expect” and similar expressions, as they relate to Baudax Bio or its management, are intended to identify such forward-looking statements. Forward-looking statements may include, without limitation, statements regarding market conditions, the completion of the proposed offering and the intended use of net proceeds from the proposed offering. These forward-looking statements are based on information available to Baudax Bio as of the date of publication on this internet site and are subject to a number of risks, uncertainties, and other factors that could cause Baudax Bio’s performance to differ materially from those expressed in, or implied by, these forward-looking statements, including, but not limited risks associated with market and other conditions. Baudax Bio assumes no obligation to update any such forward-looking statements. These forward-looking statements should be considered together with the risks and uncertainties that may affect our business and future results included in our filings with the Securities and Exchange Commission at www.sec.gov. These forward-looking statements are based on information currently available to us, and we assume no obligation to update any forward-looking statements except as required by applicable law. These forward looking statements should be considered together with the risks and uncertainties that may affect Baudax Bio’s business and future results included in Baudax Bio’s filings with the Securities and Exchange Commission at www.sec.gov.
Contact:
Argot Partners
Sam Martin / Kaela Ilami
(212) 600-1902
baudaxbio@argotpartners.com
Media Contact:
Argot Partners
David Rosen
(212) 600-1902
david.rosen@argotpartners.com
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