CorMedix Announces Pricing of Its Initial Public Offering
3/25/2010 9:52:30 AM
SUMMIT, N.J.--(BUSINESS WIRE)--CorMedix Inc. (“CorMedix”) (NYSE Amex: CRMD), a pharmaceutical company focused on developing and commercializing therapeutic products for the treatment of cardiac and renal dysfunction, also known as cardiorenal disease, today announced the pricing of its initial public offering of 1,925,000 units at $6.50 per unit (before underwriting discounts and commissions). Each unit consists of two shares of CorMedix common stock and a warrant to purchase one share of common stock at a price of $3.4375. All of the units are being offered by CorMedix. The units are expected to begin trading today on the NYSE Amex under the symbol “CRMD.U”. In addition, CorMedix has granted the underwriters a 45-day option to purchase up to an additional 288,750 units to cover over-allotments, if any. Maxim Group LLC is the sole book-running manager for the offering.
The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from Maxim Group LLC, 405 Lexington Ave, New York, NY 10174, or by telephone at 212-895-3685.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
CorMedix Inc. is a pharmaceutical company that seeks to in-license, develop and commercialize therapeutic products for the treatment of cardiac and renal dysfunction, also known as cardiorenal disease. CorMedix’s goal is to treat kidney disease by reducing the commonly associated cardiovascular and metabolic complications, in effect, treating the kidney to treat the heart.