NetworkNewsBreaks – PaxMedica Inc. (NASDAQ: PXMD) Announces Pricing of $7M Public Offering
PaxMedica (NASDAQ: PXMD), a biopharmaceutical company focused on advancing treatments for neurological disorders, today announced the pricing of its public offering of an aggregate of 5,384,615 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 5,384,615 shares of common stock, at a combined public offering price of $1.30 per share (or common stock equivalent in lieu thereof) and accompanying warrant. According to the announcement, the warrants will be exercisable immediately upon issuance, at an exercise price of $1.30 per share, and will expire five years after the initial exercise date. Subject to the satisfaction of customary conditions, the closing is expected to occur on or about Nov. 22, 2023. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.