Baudax Bio announces $11.9 million registered direct sale

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Malvern, Pennsylvania, May 31, 2021 (Global News Service) – Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on the development and commercialization of innovative products for acute care environments, today announced that it has reached a final agreement with certain institutional investors to purchase and sell a total of 14,028,520 common shares and warrants to purchase a total of 14,028,520 shares The purchase price of common shares is US$0.85 per share, and warrants are attached to the registered direct issuance. The exercise price of the warrants is US$0.90 per share, and Baudax Bio’s rights will be exercised on (i) the six-month anniversary of the closing date of the offering and (ii) the date when Baudax Bio’s shareholders approve the increase, whichever is later. The number of authorized common shares and will expire on December 1, 2026. The issuance is expected to be completed around June 1, 2021, but it must meet customary closing conditions.

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

Baudax Bio’s total proceeds from this offering are estimated to be approximately US$11.9 million. In addition, if the warrants are fully exercised in cash, Baudax Bio expects to receive approximately US$12.6 million in additional total proceeds. However, there is no guarantee that all or any part of the warrant will be exercised before its expiry. Baudax Bio currently intends to use the net proceeds from this issuance for the commercialization of ANJESO®, Pipeline development activities and general corporate purposes.

The aforementioned securities were provided by Baudax Bio in accordance with the “shelf” registration statement on Form S-3 (document number 333-235408) filed with the U.S. Securities and Exchange Commission (SEC) on December 6, 2019, and on December 16, 2019. The issuance of the securities mentioned in this article is only conducted through the prospectus, including the supplement to the prospectus, which forms part of the valid registration statement. Supplements to the final prospectus related to the securities offered and the accompanying prospectus will be submitted to the U.S. Securities and Exchange Commission. The final supplement to the prospectus and an electronic copy of the accompanying prospectus are available on the website of the US Securities and Exchange Commission (if any) http://www.sec.gov Or contact HC Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, telephone (212) 856-5711, or send an email to Places@hcwco.com.

This press release does not constitute an offer to sell or an offer to purchase any of the securities described herein, nor should such an offer, offer or sale of such securities be sold in any state or other jurisdiction under any such state or other jurisdiction The securities laws of the district are illegal before registration or qualification.

About BD Bio

Baudax Bio is a pharmaceutical company focused on developing and commercializing innovative products for acute care environments. Baudax Bio’s first commercial product ANJESO ® will be launched in mid-2020. ANJESO is the first and only 24-hour intravenous (IV) COX-2 priority non-steroidal anti-inflammatory drug (NSAID) for the treatment of moderate to severe pain. It can be administered alone or in combination with other non-NSAID sedatives. Co-administration of pain medicine. It has successfully completed three phase III clinical trials, including two key efficacy trials, a large double-blind phase III safety trial and an evaluation of ANJESO and its health and economic impact in a specific surgical environment Phase IIIb plan. In addition to ANJESO, Baudax Bio also owns a series of other innovative pharmaceutical assets, including two new neuromuscular blockers (NMBA) and a proprietary chemical reversal agent dedicated to these NMBAs, which are currently in preclinical research.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 of its future performance and opportunities, which involve significant risks and uncertainties. When used in this article, the words “anticipate”, “believe”, “estimate”, “may”, “coming”, “plan”, “target”, “target”, “intend” and “anticipate” 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, but are not limited to, statements regarding the expected completion of the registered direct issuance and the use of proceeds. These forward-looking statements are based on information available to Baudax Bio as of the date of publication of this website and are subject to many risks, uncertainties and other factors that may cause Baudax Bio’s performance to be different from or implied by these forward-looking statements. Including but not limited to risks related to 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, and these risks and uncertainties are included in our documents filed with the US Securities and Exchange Commission www.sec.govThese 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 laws.These forward-looking statements should be considered together with the risks and uncertainties that may affect Baudax Bio’s business and future results, which are contained in Baudax Bio’s filings with the US Securities and Exchange Commission www.sec.gov.

contact:

Investor Relations Contact:
Code Word Partners
Sam Martin/ Claudia Staeslinger
(212) 600-1902
baudaxbio@argotpartners.com

Media Contact:
Code Word Partners
David Rosen
(212) 600-1902
david.rosen@argotpartners.com

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