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Adma to price initial public offering of stock between $8.50 and $9.50
Bookrunner Oppenheimer could sell 2,666,667 shares with greenshoe
By Devika Patel
Knoxville, Tenn., Sept. 25 - Adma Biologics, Inc. will price its initial public sale of common stock at a price between $8.50 and $9.50 per share, increased from between $8.00 and $9.00 per share, according to a Form S-1/A filed Wednesday with the Securities and Exchange Commission. The deal was announced on April 11.
The company will sell 2,666,667 shares with a 30-day greenshoe of an additional 400,000 shares.
Oppenheimer & Co. is the bookrunning manager. Ladenburg Thalmann & Co. Inc., Maxim Group LLC and Laidlaw & Co. (UK) Ltd. are the co-managers.
Proceeds will be used to continue clinical testing and commercialization of RI-002 and for working capital and other general corporate purposes.
The Tampa-based company is the developer and administrator of web-based individual health insurance plans and ancillary products.
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