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MALVERN, Pa., Dec. 17, 2020 (GLOBE NEWSWIRE) — Baudax Bio, Inc. (NASDAQ:BXRX), a pharmaceutical company focused on therapeutics for acute care settings, (“Baudax Bio” or the “Company”) today announced that it has entered into a definitive agreement with a healthcare-focused institutional investor for the purchase and sale of an aggregate of 10,300,430 shares of common stock (or prefunded warrants in lieu thereof) and warrants to purchase up to an aggregate of 10,300,430 shares of common stock at a purchase price of $1.165 per share (or $1.155 per prefunded warrant) and accompanying warrant in a registered direct offering priced at-the-market under Nasdaq rules. The warrants have an exercise price of $1.18 per share, are exercisable immediately, and will expire five years following the date of issuance. The closing of the offering is expected to occur on or about December 21, 2020, subject to the satisfaction of customary closing conditions.