Trxade Group, a B2B online marketplace for pharmaceutical companies, announced terms for its IPO on Monday, January 27, 2020.
The Land O’ Lakes, FL-based company plans to raise $6 million by offering 0.8 million shares at $7.44, the as-converted last close of its shares on the OTCQB (TRXD). At $7.44, Trxade Group would command a fully diluted market value of $59 million.
Trxade Group was founded in 2005 and booked $7 million in revenue for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol MEDS. Aegis Capital Corp. and WestPark Capital are the joint bookrunners on the deal.
