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 announced the closing of 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, in addition to
the exercise in full of the underwriters’ option to purchase an
additional 3,146,853 shares of common stock. The gross proceeds
from the exercise of the overallotment option were $9 million,
bringing the total gross proceeds to ADMA from the offering to $69
million, before deducting underwriting discounts and commissions
and other estimated offering expenses.
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 acted as joint book-running
managers of the offering.
The offering of the securities described above was made 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. The final prospectus supplement, including the
accompanying prospectus, relating to the offering was filed with
the SEC on December 7, 2022 and is 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 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.
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 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, 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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