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.
