(RTTNews) - CorMedix Inc. (CRMD) announced Friday the pricing of its public offering of 6,604,507 shares of common stock, expected to generate gross proceeds of approximately $85 million.
The offering includes a 30-day option granted to underwriters to purchase up to an additional 15 percent of the shares offered.
The offering is expected to close on or about June 30, 2025, subject to customary closing conditions.
CorMedix plans to use the net proceeds for general corporate purposes, including working capital, R&D expenses, and potential strategic transactions such as acquisitions or partnerships.
CorMedix is focused on commercializing DefenCath, its FDA-approved catheter lock solution, and expanding into additional indications including pediatric and TPN patient populations.
Currently, CRMD is trading at $12.45, down by 16.95 percent on the Nasdaq.
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