RAMSEY, N.J. and BOCA RATON, Fla., June 08, 2018 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq:ADMA) announced today the pricing of its previously announced underwritten public offering of 8,368,200 shares of its common stock at a public offering price of $4.78 per share, resulting in gross proceeds of approximately $40.0 million before deducting underwriting discounts and commissions and other estimated offering expenses.
The offering is expected to close on June 12, 2018, subject to the satisfaction of customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase up to 1,255,230 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) for continued remediation and ongoing improvement and enhancements at its plasma fractionation facility located in Boca Raton, FL, (ii) to submit the Prior Approval Supplement for, and relaunch of, Bivigam®, (iii) to resubmit the Biologics License Application for its lead pipeline product candidate, RI-002, (iv) in connection with U.S. Food and Drug Administration approval of its third plasma collection facility, and (v) for general corporate purposes and other capital expenditures.
Raymond James & Associates, Inc. is acting as the sole book-running manager for the offering. Oppenheimer & Co. Inc. is acting as lead manager and Chardan is acting as co-manager for the offering.
About ADMA Biologics, Inc. (ADMA)
ADMA is a vertically integrated commercial biopharmaceutical company that manufactures, markets and develops specialty plasma-based biologics designed for the treatment of Primary Immune Deficiency Disease (“PIDD”) and the prevention and treatment of certain infectious diseases. ADMA's mission is to develop and commercialize plasma-derived, human immune globulins targeted to niche patient populations for the treatment and prevention of certain infectious diseases. The target patient populations include immune-compromised individuals who suffer from an underlying immune deficiency disease, or who may be immune-compromised for other medical reasons. ADMA has received U.S. Patents 9,107,906, 9,714,283, 9,815,886 and 9,969,793 related to certain aspects of its lead product candidate, RI-002. For more information, please visit www.admabiologics.com.
