- CareRx Corporation (CRRX) has closed a bought deal offering and the first tranche of a private placement for total gross proceeds of approximately $12.1 million
- The company raised approximately $8.1 million under the public offering and approximately $4 million under the first tranche of the private placement
- 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) opened trading at C$2.53
CareRx Corporation (CRRX) has closed a bought deal offering and the first tranche of a private placement for gross proceeds of $12.1 million.
Under the public offering, the company issued 2,998,000 common shares, including 35,000 shares issued as a result of the partial exercise of the over-allotment option, at a price of $2.70 per share for gross proceeds of approximately $8.1 million.
The company also issued 1,481,500 common shares under the first tranche of a private placement for gross proceeds of approximately $4 million. The closing of the second tranche for an additional $4 million of gross proceeds is expected to occur on or about February 28, 2023.
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) opened trading at C$2.53.