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 20,979,020 shares of its common stock at a
public offering price of $2.86 per share, resulting in gross
proceeds of approximately $60 million before deducting underwriting
discounts and commissions and other estimated offering expenses.
The offering is expected to close on December 9, 2022, subject
to the satisfaction of customary closing conditions. The Company
has also granted the underwriters a 30-day option to purchase up to
3,146,853 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 to
accelerate commercialization and production activities, complete
plasma center buildout and obtain FDA approvals, to conclude post
FDA marketing approval research and development projects, and for
working capital, capital expenditures and for general corporate
purposes.
Raymond James & Associates, Inc., Cantor Fitzgerald &
Co. and Mizuho Securities USA LLC are acting as joint book-running
managers of 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 by the SEC on August 3,
2021. A preliminary prospectus supplement, including the
accompanying prospectus, relating to the offering was filed with
the SEC on December 6, 2022 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 website 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
& Associates, Inc., Attention: Equity Syndicate, 880 Carillon
Parkway, St. Petersburg, Florida 33716, or by telephone at (800)
248-8863, or e-mail at prospectus@raymondjames.com, or from Cantor
Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 4th
Floor, New York, New York 10022 or by email at
prospectus@cantor.com, or from Mizuho Securities USA LLC,
Attention: Equity Capital Markets, 1271 Avenue of the Americas, 3rd
Floor, New York, NY 10020, by email at US-ECM@us.mizuho-sc.com, or
by telephone at (212) 205-7600.
Before investing in the offering, you should read in their
entirety the preliminary prospectus supplement and its accompanying
prospectus and the other documents that the Company has filed with
the SEC that are incorporated by reference in the prospectus
supplement and its accompanying prospectus, which provide more
information about the Company and the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About ADMA Biologics, Inc.
(ADMA)
ADMA Biologics is an end-to-end commercial
biopharmaceutical company dedicated to manufacturing, marketing and
developing specialty plasma-derived biologics for the treatment of
immunodeficient patients at risk for infection and others at risk
for certain infectious diseases. ADMA currently manufactures and
markets three United States Food and Drug Administration
(FDA)-approved plasma-derived biologics for the treatment of immune
deficiencies and the prevention of certain infectious diseases:
BIVIGAM® (immune globulin intravenous, human) for the treatment of
primary humoral immunodeficiency (PI); ASCENIV™ (immune globulin
intravenous, human – slra 10% liquid) for the treatment of PI; and
NABI-HB® (hepatitis B immune globulin, human) to provide enhanced
immunity against the hepatitis B virus. ADMA manufactures its
immune globulin products at its FDA-licensed plasma fractionation
and purification facility located in Boca Raton, Florida. Through
its ADMA BioCenters subsidiary, ADMA also operates as an
FDA-approved source plasma collector in the U.S., which provides a
portion of its blood plasma for the manufacture of its products.
ADMA’s mission is to manufacture, market and develop specialty
plasma-derived, human immune globulins targeted to niche patient
populations for the treatment and prevention of certain infectious
diseases and management of immune compromised patient populations
who suffer from an underlying immune deficiency, 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, 9,969,793 and
10,259,865 and European Patent No. 3375789, among others, related
to certain aspects of its products and product candidates. For more
information, please visit www.admabiologics.com.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains “forward-looking
statements” pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, about ADMA Biologics,
Inc. (“we,” “our” or the “Company”). Forward-looking statements
include, without limitation, any statement that may predict,
forecast, indicate, or imply future results, performance or
achievements, and may contain such words as “estimate,” “project,”
“intend,” “forecast,” “target,” “anticipate,” “plan,” “planning,”
“expect,” “believe,” “will,” “is likely,” “will likely,” “should,”
“could,” “would,” “may,” or, in each case, their negative, or words
or expressions of similar meaning. These forward-looking statements
include statements about the offering and ADMA’s intended use of
proceeds generated from the offering. Actual events or results may
differ materially from those described in this document due to a
number of important factors. Current and prospective security
holders are cautioned that there also can be no assurance that the
forward-looking statements included in this press release will
prove to be accurate. Except to the extent required by applicable
laws or rules, ADMA does not undertake any obligation to update any
forward-looking statements or to announce revisions to any of the
forward-looking statements. Forward-looking statements are subject
to many risks, uncertainties and other factors that could cause our
actual results, and the timing of certain events, to differ
materially from any future results expressed or implied by the
forward-looking statements, including, but not limited to, risks
and uncertainties related to market conditions and satisfaction of
customary closing conditions related to the public offering and the
risks and uncertainties described in our filings with the U.S.
Securities and Exchange Commission, including our most recent
reports on Form 10-K, 10-Q and 8-K, and any amendments thereto.
COMPANY CONTACT:
Skyler BloomSenior Director, Corporate Strategy
and Business Development | 201-478-5552 | sbloom@admabio.com
INVESTOR RELATIONS
CONTACT:Michelle Pappanastos Senior Managing Director,
Argot Partners | 212-600-1902 | michelle@argotpartners.com
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