Business
ADMA Biologics Announces Pricing of Public Offering for $50 Million of Common Stock
RAMSEY, N.J. and BOCA RATON, Fla., Oct. 21, 2021 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), an end-to-end commercial
About this update from Adma Biologics Inc
[{"type":"text","content":"RAMSEY, N.J. and BOCA RATON, Fla., Oct. 21, 2021 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics, today priced its previously announced underwritten public offering of 50 million shares of its common stock at a public offering price of $1.00 per share, resulting in gross proceeds of approximately $50 million before deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on October 25, 2021, subject to the satisfaction of customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase up to 7.5 million additional shares of common stock at the public offering price before deducting underwriting discounts and commissions. ADMA intends to use the net proceeds from this offering (i) to advance the commercial sales of its U.S. Food and Drug Administration (FDA)-approved products through the procurement of raw materials for the manufacturing of BIVIGAM® and ASCENIV™; (ii) to expand its plasma collection facility network; (iii) to scale up the manufacturing capacity of its Boca Raton facility and to make continuous improvements in order to adhere to current Good Manufacturing Practice (cGMP) compliance; (iv) to explore business development opportunities; and (v) for general corporate purposes and other capital expenditures. Raymond James & Associates, Inc. and Cantor Fitzgerald & Co. are acting as joint book-running managers for the offering. The securities described above are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-256643) previously filed with the Securities and Exchange Commission (“SEC”) and declared effective on August 3, 2021. A preliminary prospectus supplement relating to the offering was filed with the SEC on October 20, 2021 and is available on the SEC’s website at www.sec.gov. The final prospectus supplement relating to the offering will be filed with the SEC and will also be available on the SEC’s web site at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from Raymond James & Associat...