“Green” bug repellent and wellness products maker Med-X- (MXRX) has updated its terms for a proposed $8M initial public offering.
Med-X said in a filing that it is now considering offering 2.1M shares at an assumed price of $4 per share, which would raise approximately $8.4M.
Med-X hopes to list its shares on Nasdaq under the symbol MXRX. EF Hutton and Craft Capital are serving as bookrunners. The company also intends to conduct a 1-for-60 reverse stock split ahead of the deal.
Med-X is a marketer of OTC wellness products and “green” pesticides, insecticides and insect repellants.
The latest deal was slightly upsized from one proposed in late September, which called for 1.7M shares to be priced between $4 and $4.30, which would have raised around $7M if priced at the midpoint at $4.15.
Med-X first filed for an IPO early September, proposing to offer 1.6M shares priced at $4.15 per share.
For more on Med-X, check out Donovan Jones’s column “Med-X Seeks $7M US IPO.”
Image and article originally from seekingalpha.com. Read the original article here.