ADMA Biologics (ADMA) Prices 23.5M Share Upsized Common Offering at $3.50/Sh

ADMA Biologics, Inc. (NASDAQ: ADMA) 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, today announced the pricing of its previously announced underwritten public offering of 23,500,000 shares of its common stock at a public offering price of $3.50 per share, resulting in gross proceeds of approximately $82.3 million before deducting underwriting discounts and commissions and other estimated offering expenses.

The offering is expected to close on February 11, 2020, subject to the satisfaction of customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase up to 3,525,000 additional shares of common stock at the public offering price less the underwriting discount.

ADMA intends to use the net proceeds from this offering (i) for the procurement of raw materials for the manufacturing of BIVIGAM and ASCENIV; (ii) to support the ongoing commercial sales of BIVIGAM and ASCENIV; (iii) to expand the manufacturing capacity of its Boca Facility, including supply chain functions, and enhance the robustness of its supply chain oversight; (iv) to expand its plasma collection facility network; (v) for research and development and business development opportunities; and (vi) for general corporate purposes and other capital expenditures.

Morgan Stanley and Jefferies LLC are acting as joint book-running managers for the offering. Oppenheimer & Co. Inc. is acting as co-manager for the offering.

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