 MALVERN, Pa., May 31, 2021 GLOBE NEWSWIRE -- Baudax Bio, Inc. NASDAQ:BXRX, a pharmaceutical company focused on developing and commercializing innovative products for acute care settings, today announced that it has entered into a definitive agreement with certain institutional investors for the purchase and sale of an aggregate of 14,028,520 shares of common stock and warrants to purchase up to an aggregate of 14,028,520 shares of common stock at a purchase price of 0.85 per share and accompanying warrant in a registered direct offering. The warrants have an exercise price of 0.90 per share, will become exercisable upon the later of i the six-month anniversary of the closing date of the offering, and ii the date of approval by the Baudax Bio shareholders of an increase in the number of Baudax Bios authorized shares of common stock, and will expire on December 1, 2026. The closing of the offering is expected to occur on or about June 1, 2021, subject to the satisfaction of customary closing conditions. 