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.

The article Micro-cap online pharmacy Trxade Group prices Nasdaq IPO uplisting at $6.50 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

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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