Trxade Group (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, on Tuesday announced the closing of its underwritten public offering of 806,452 shares of common stock at a price to the public of $6.50 each. The company granted the underwriters a 45-day option to obtain up to an additional 120,967 shares of common stock to cover any overallotments. Before the deduction of underwriting discounts and offering expenses, the company secured gross proceeds of $5.24 million from the offering, which it plans to utilize toward working capital, general corporate purposes and potentially to fund acquisitions of other companies, products or technologies. ViewTrade Securities, Inc. acted as an underwriter of the offering, while Dawson James Securities, Inc. and Dougherty & Company LLC acted as both underwriters and co-book running managers.
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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, visit the company’s website at www.Trxade.com.
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://nnw.fm/MEDS
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