Micro-cap online pharmacy Trxade Group prices Nasdaq IPO uplisting at $6.50
Trxade Group, a B2B online marketplace for pharmaceutical companies, raised $5 million in its Nasdaq IPO by offering 806,452 shares at $6.50, below the as-adjusted last close of $9.00 for its shares on the OTCQB (ticker: TRXD), as well as the last close of its shares when the company launched the offering in January ($7.44).
At the $6.50 offer price, Trxade Group commands a fully-diluted post-IPO market cap of $51 million.
Trxade Group plans to list on the Nasdaq under the symbol MEDS. Dawson James and Dougherty & Company acted as lead managers on the deal.
Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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