ADMA Biologics Inc. priced an underwritten public offering of its 11,250,000 common shares at $4 apiece, targeting to raise about $45 million.
The Ramsey, N.J.-based company also granted the underwriters a 30-day option to purchase up to 1,687,500 additional common shares at the same price.
ADMA plans to use the net proceeds for Asceniv's planned commercial launch during the second half of 2019 and for Bivigam's commercial relaunch.
Asceniv and Bivigam are used to treat primary humoral immunodeficiency disease, a group of disorders involving a compromised or incomplete immune system.
The funds will also be used to expand capacity at the company's Boca Raton, Fla., facility and grow its plasma collection facility network, to procure raw materials to manufacture Asceniv and Bivigam, and for general corporate purposes and other capital expenditures.
The offering is expected to close on May 21.
Jefferies LLC and Raymond James & Associates Inc. are acting as joint book-running managers, while Oppenheimer & Co. Inc. is acting as lead manager for the offering.