Malvern, Pa., May 01, 2023 (GLOBE NEWSWIRE) — Baudax Bio, Inc. (the “Company” or “Baudax Bio”) BXRX, a pharmaceutical company focused on innovative products for hospitals and related facilities, today announced the completion of its previously announced public offering of a total of 3,478,262 common shares (or prefunded warrants in lieu thereof) along with related common share purchase warrants at a public offering price of $1.15 per share (or prefunded warrant) and accompanying warrants. Each common share (or prefunded warrant) was sold in the offering along with a Series A-5 warrant to purchase one common share at an exercise price of $1.15 per share and a Series A-6 warrant to purchase one common share at an exercise price of $1.15 per share. The Series A-5 Warrants are immediately exercisable and expire five years from the date of issuance and the Series A-6 Warrants are immediately exercisable and expire eighteen months from the date of issuance.

HC Wainwright & Co. acted as exclusive placement agent for the offering.

Gross proceeds from the offering, before deducting placement agent fees and other offering costs, were approximately $4 million. The Company intends to use the net proceeds from this offering for pipeline development activities and general corporate purposes.

The securities described above were offered pursuant to a registration statement on Form S-1 (File Number 333-271161) filed by the Securities and Exchange Commission (the “SEC”) on April 26, 2023 by means of a prospectus containing only forms part of the valid registration form. A definitive prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus are available at the SEC’s website at http://www.sec.gov and may also be obtained by contacting HC Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New…