Raymond James helps fund pre-launch and commercialization activities
By Devika Patel
Knoxville, Tenn., March 18 – Adma Biologics, Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $1.47 million greenshoe in full for total proceeds of $11.27 million. The offering was announced March 12 and priced for $9.8 million with the greenshoe on March 13.
The company sold 1,408,750 common shares at $8.00 per share. The price per share reflects a 2.68% discount to the March 12 closing share price of $8.22. Of the shares, 183,750 were part of the fully exercised greenshoe.
Raymond James was the bookrunning manager.
Proceeds will be used for pre-launch and commercialization activities and general and corporate purposes.
Based in Ramsey, N.J., Adma is a late-stage biopharmaceutical company that develops, manufactures and intends to market plasma-based biologics to treat and prevent infectious diseases.
| Issuer: | Adma Biologics, Inc.
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| Issue: | Common stock
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| Amount: | $11.27 million (including $1.47 million greenshoe)
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| Shares: | 1,408,750
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| Price: | $8.00
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| Warrants: | No
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| Bookrunner: | Raymond James
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| Co-managers: | Laidlaw & Co. (UK) Ltd. and Maxim Group LLC
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| Announcement date: | March 12
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| Pricing date: | March 13
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| Settlement date: | March 18
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| Stock symbol: | Nasdaq: ADMA
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| Stock price: | $8.22 at close March 12
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| Market capitalization: | $74.33 million
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