ADMA Biologics Inc. priced its offering of 8,368,200 common shares at $4.78 apiece to raise gross proceeds of $40.0 million.
The company also granted the underwriters an option to buy up to 1,255,230 additional shares.
The offering is expected to close June 12.
ADMA plans to use the net proceeds from the offering for remediation and ongoing improvement and enhancements at its plasma fractionation facility in Boca Raton, Fla.
The company will also use the proceeds to acquire regulatory approvals and relaunch of Bivigam to treat primary humoral immunodeficiency and to resubmit the biologics license application for its potential drug RI-002 to treat primary immunodeficiency diseases.
In addition, the company will use the proceeds to acquire U.S. Food and Drug Administration approval for its third plasma collection facility and for general corporate purposes and other capital expenditures.
Raymond James & Associates Inc. is acting as the sole book-running manager, Oppenheimer & Co. Inc. is acting as lead manager and Chardan is acting as co-manager for the offering.
Ramsey, N.J.-based ADMA Biologics is a late-stage biopharmaceutical company that develops, manufactures and intends to commercialize specialty plasma-based biologics to treat and prevent immune deficiencies and infectious diseases.
