Trxade Group, Inc. (NASDAQ: MEDS), an integrated drug procurement, delivery and healthcare platform that enables price transparency and increased profit margins to healthcare buyers and sellers of pharmaceuticals, today announced the exercise by the underwriters of the Company’s previously announced firm commitment underwritten offering which closed on February 18, 2020. According to the update, the exercise of the overallotment option and the underwriters purchase of 115,767 shares of common stock, each at the public offering price of $6.50, less the underwriters’ discount of $0.52 per share, resulted in net pricing of $5.98 per share. Trxade Group received approximately $0.7 million in gross proceeds from the sale of common stock from the underwriters’ exercise of their overallotment option, prior to deducting offering expenses. Trxade Group intends to use the net proceeds for working capital and general corporate purposes and possibly to fund acquisitions of other companies, products or technologies.
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About Trxade Group, Inc.
Headquartered in Tampa, Florida, Trxade Group, Inc. (NASDAQ: MEDS) is an integrated drug procurement, delivery and healthcare platform that enables price transparency and increased profit margins to healthcare buyers and sellers of pharmaceuticals. Founded in 2010, Trxade Group is comprised of three synergistic operating platforms; the Trxade B2B trading platform with 11,900 registered pharmacies, licensed virtual Wholesale and Mail Order Pharmacy delivery capabilities using DelivMeds app. For additional information, please visit www.Trxade.com.
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