ismagilov
Natural pesticides marketer Med-X (MXRX) has updated terms for a proposed $7M initial public offering.
In a filing, Med-X said that it is now looking to offer 1.7M shares, priced between $4 and $4.30, which would raise around $7M if priced at the midpoint.
The company hopes to list its shares on Nasdaq under the symbol MXRX. EF Hutton is serving as lead bookrunner.
Early this month, Med-X said in another filing that it was looking to raise up to $7.5M through the sale of 1.6M units, with each unit consisting of one share plus one warrant to purchase one share. The underlying warrants were expected to generate an additional $7.5M if exercised.
Based in California, Med-X develops and markets all-natural pesticides, insecticides and insect repellents under the brand name Nature-Cide. The company also markets pain treatment and management products under its Thermal-Aid and Malibu brands.
Med-X has been operating in the red. For 2021, the company reported a net loss of $5M on revenue of $1M.
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Image and article originally from seekingalpha.com. Read the original article here.