- ADMA Biologics ( NASDAQ: ADMA ) shares fell 4% premarket on Wednesday after the biopharmaceutical company priced its underwritten public offering of 20,979,020 shares of its common stock at $2.86 each.
- The underwriters have been granted a 30-day option to purchase up to 3,146,853 additional shares at the public offering price before deducting underwriting discounts and commissions.
- Gross proceeds are estimated to be ~$60M. Net proceeds will be used 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.
- The offering is expected to close on December 9, 2022.
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ADMA Biologics stock dips after pricing ~$60M share offering