- CareRx Corporation (CRRX) has closed the second tranche of a private placement for gross proceeds of approximately $4 million
- Under the second tranche, the company issued 1,481,500 common shares to Yorkville Asset Management Inc.
- The net proceeds are expected to be used for debt reduction, working capital and general corporate purposes
- CareRx is a provider of pharmacy services to senior living communities
- CareRx Corporation (CRRX) is down 1.62 per cent on the day, trading at C$2.43 per share at 9:45 am ET
CareRx Corporation (CRRX) has closed the second tranche of a private placement for gross proceeds of approximately $4 million.
Under the second tranche of the previously-announced offering, the company issued 1,481,500 common shares to Yorkville Asset Management Inc.
“As CareRx’s largest shareholder, we are pleased to provide continued financial support to CareRx,” said Ralph Desando, Managing Director of Private Investments at Yorkville.
“Our most recent investment demonstrates Yorkville’s continued belief in the CareRx management team and the long-term growth trajectory of the company.”
The net proceeds of the public offering and private placement are expected to be used for debt reduction, working capital and general corporate purposes.
CareRx is a provider of pharmacy services to senior living communities. The company serves over 93,000 residents in over 1,600 long-term care homes, retirement homes, assisted living facilities, and group homes.
CareRx Corporation (CRRX) is down 1.62 per cent on the day, trading at C$2.43 per share at 9:45 am ET.
