Paxmedica announces closing of $7.0 million public offering

Tarrytown, ny / accesswire / november 22, 2023 / paxmedica, inc. (nasdaq:pxmd) ("paxmedica" or the "company"), a biopharmaceutical company focused on advancing treatments for neurological disorders, today announced the closing of its previously announced public offering of an aggregate of 5,384,615 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 5,384,615 shares of common stock, at a public offering price of $1.30 per share (or common stock equivalent in lieu thereof) and accompanying warrant. the warrants have an exercise price of $1.30 per share, are exercisable immediately upon issuance, and will expire five years after the initial exercise date.
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