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ADMA Biologics starts common stock offering

ADMA Biologics Inc. started an underwritten public offering of its common stock.

The company plans to grant the underwriters an option to buy up to an additional 15% of the shares sold in the offering.

ADMA plans to use the net proceeds for continued remediation and ongoing improvement and enhancements at its plasma fractionation facility and to acquire a U.S. Food and Drug Administration approval of its third plasma collection facility.

The proceeds will also be used for general corporate purposes and other capital expenditures.

Raymond James & Associates Inc. is acting as the sole book-running manager of the offering.

Ramsey, N.J.-based ADMA Biologics is a late-stage biopharmaceutical company, which develops, manufactures and intends to commercialize specialty plasma-based biologics to treat and prevent immune deficiencies and infectious diseases.