Adamis Pharmaceuticals Announces Pricing of Public Offering of Common Stock and Warrants
01 Agosto 2019 - 8:00AM
Adamis Pharmaceuticals Corporation (Nasdaq: ADMP), a specialty
biopharmaceutical company focused on developing and commercializing
products in various therapeutic areas, including respiratory
disease, allergy and opioid overdose, announced today the pricing
of its previously announced underwritten public offering of
12,000,000 shares of its common stock and warrants to purchase up
to 12,000,000 shares of its common stock. Each share of common
stock is being sold together with a warrant to purchase one share
of common stock for a combined public offering price of $1.00,
resulting in gross proceeds of approximately $12,000,000, before
deducting underwriting discounts and commissions and other
estimated offering expenses payable by the company and excluding
the proceeds from the exercise of any warrants. All shares of
common stock and warrants to purchase common stock to be sold in
the public offering are being sold by Adamis. The warrants will be
exercisable commencing on the date of issuance, will expire five
years from the date of issuance, and have an exercise price of
$1.15 per share, subject to certain adjustments. The shares of
common stock and warrants will be purchased together but will be
issued separately and will be immediately separable upon issuance.
The offering is expected to close on August 5, 2019, subject to
the satisfaction of customary closing conditions. The company
has also granted the underwriters a 30-day option to purchase up to
1,800,000 additional shares of its common stock and/or warrants to
purchase up to 1,800,000 additional shares of its common stock.
Raymond James & Associates, Inc. is acting as the sole
book-running manager for the offering. Maxim Group LLC is
acting as lead manager for the offering.
The company intends to use the net proceeds from this offering
for general corporate purposes, which may include, without
limitation, expenditures relating to research, development and
clinical trials relating to its products and product candidates,
manufacturing, capital expenditures, hiring additional
personnel, acquisitions of new technologies or products, the
repayment, refinancing, redemption or repurchase of existing or
future indebtedness or capital stock and working capital.
The securities described above are being offered by the company
pursuant to a “shelf” registration statement on Form S-3 (File No.
333-226100) previously filed with and declared effective by the
Securities and Exchange Commission (the “SEC”) on July 18,
2018. A preliminary prospectus supplement and the related
prospectus have been filed with the SEC and are available on the
SEC’s website at www.sec.gov. A final prospectus supplement and an
accompanying prospectus related to the offering will be filed with
the SEC and will be available on the SEC’s website located at
www.sec.gov. When available, copies of the final prospectus
supplement and the accompanying prospectus relating to this
offering may be obtained by contacting Raymond James &
Associates, Inc., Attention: Equity Syndicate, 880 Carillon
Parkway, St. Petersburg, Florida, or by telephone at
(800) 248-8863, or e-mail at prospectus@raymondjames.com.
Before investing in the offering, you should read in their
entirety the prospectus supplement and the accompanying prospectus
and the other documents that the company has filed with the SEC
that are incorporated by reference in the prospectus supplement and
the accompanying prospectus, which provide more information about
the company and the offering.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities described herein,
nor shall there be any sale of these securities in any state or
other 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 Adamis Pharmaceuticals Corporation
Adamis Pharmaceuticals Corporation is a specialty
biopharmaceutical company focused on developing and commercializing
products in various therapeutic areas, including respiratory
disease, allergy and opioid overdose. The company’s
SYMJEPI™ (epinephrine) Injection 0.3mg and SYMJEPI
(epinephrine) Injection 0.15mg products are FDA approved for use in
the emergency treatment of acute allergic reactions, including
anaphylaxis. The company is developing additional products,
including the company’s ZIMHI™ naloxone injection product
candidate for the treatment of opioid overdose, and a metered dose
inhaler and dry powder inhaler product candidates for the treatment
of asthma. The company’s subsidiary, U.S. Compounding, Inc.,
compounds sterile prescription drugs and certain nonsterile drugs
for human and veterinary use, to patients, physician clinics,
hospitals, surgery centers and other clients throughout most of the
United States.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding the public offering and the
intended use of proceeds from the offering and statements about the
progress of the commercialization of its epinephrine pre-filled
syringe product and the development of the company’s product
candidates. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed. These forward-looking statements
also are subject to risks, uncertainties and assumptions, including
those detailed from time to time in the company’s filings with the
SEC, and represent the company’s views only as of the date they are
made and should not be relied upon as representing the company’s
views as of any subsequent date. The company’s actual results
may differ materially from those contemplated by these
forward-looking statements. Except to the extent required by
law, the company does not undertake to update any of these
forward-looking statements to reflect a change in its views or
events or circumstances that occur after the date of this press
release.
Adamis Pharmaceuticals (NASDAQ:ADMP)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Adamis Pharmaceuticals (NASDAQ:ADMP)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024