×

Alliqua BioMedical, Inc. Announces Closing of $34.5 Million Public Offering Including Exercise of Underwriters' Option to Purchase Additional Shares

LANGHORNE, Pa., May 4, 2015 (GLOBE NEWSWIRE) -- Alliqua BioMedical, Inc. (Nasdaq:ALQA) ("Alliqua" or "the Company"), a provider of advanced wound care products, today announced the closing of its previously announced underwritten offering of 6,593,407 shares of its common stock at a public offering price of $4.55 per share. In addition, the underwriters have exercised their over-allotment option in full to purchase an additional 989,011 shares of common stock at the public offering price.

All of the shares in the offering were sold by Alliqua, with total gross proceeds to the Company of $34.5 million, before deducting underwriting discounts and estimated offering expenses.

Cowen and Company, LLC and RBC Capital Markets, LLC acted as the joint book-running managers for the offering, and Craig-Hallum Capital Group LLC acted as co-manager.

The Company intends to use the net proceeds from this offering to fund the commercial expansion of its marketed products, to opportunistically pursue additional product platforms, and for working capital and general corporate purposes.

The public offering was made pursuant to a shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission ("SEC") and declared effective on September 25, 2014. A final prospectus supplement and the accompanying prospectus relating to the offering was filed with the SEC on April 29, 2015 and is available on the SEC's website located at http://www.sec.gov, and copies may be obtained from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by calling (631) 274-2806; or from RBC Capital Markets, Attention: Prospectus Department, Three World Financial Center, 200 Vesey Street 8th Floor, New York, NY 10281, or by phone at (877) 822-4089 or by emailing equityprospectus@rbccm.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or 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 Alliqua BioMedical, Inc.

Alliqua is a provider of advanced wound care solutions. Through its sales and distribution network, together with its proprietary products, Alliqua provides a suite of technological solutions to enhance the wound care practitioner's ability to deal with the challenges of healing both chronic and acute wounds.

Alliqua currently markets its line of hydrogel products for wound care under the SilverSeal® and Hydress® brands, as well as the sorbion sachet S® and sorbion sana® wound care products, and its TheraBond 3D® advanced dressing which incorporates the TheraBond 3D® Antimicrobial Barrier Systems technology. It also markets the advanced wound care product Biovance®, as part of its licensing agreement with Celgene Cellular Therapeutics.

In addition, Alliqua can provide a custom manufacturing solution to partners in the medical device and cosmetics industry, utilizing its proprietary hydrogel technology. Alliqua's electron beam production process, located at its 16,500 square foot Good Manufacturing Practice (GMP) manufacturing facility in Langhorne, PA, allows Alliqua to develop and custom manufacture a wide variety of hydrogels. Alliqua's hydrogels can be customized for various transdermal applications to address market opportunities in the treatment of wounds as well as the delivery of numerous drugs or other agents for pharmaceutical and cosmetic industries.

Legal Notice Regarding Forward-Looking Statements:

This release contains forward-looking statements. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. Such statements are based on management's good faith expectations and are subject to numerous factors, risks and uncertainties that may cause actual results, the outcome of events, timing and performance to differ materially from those expressed or implied by such statements. These factors, risks and uncertainties include, but are not limited to, failure to consummate or delay in consummating the Celleration acquisition; the adequacy of the Company's liquidity to pursue its complete business objectives; inadequate capital; the Company's ability to obtain reimbursement from third-party payers for its products; loss or retirement of key executives; adverse economic conditions or intense competition; loss of a key customer or supplier; entry of new competitors and products; adverse federal, state and local government regulation; technological obsolescence of the Company's products; technical problems with the Company's research and products; the Company's ability to expand its business through strategic acquisitions; the Company's ability to integrate acquisitions and related businesses; price increases for supplies and components; and the inability to carry out research, development and commercialization plans. In addition, other factors that could cause actual results to differ materially are discussed in our Annual Report on Form 10-K filed with the SEC on February 24, 2015, our most recent Form 10-Q filings with the SEC and the final prospectus supplement filed with the SEC on April 29, 2015 in connection with the public offering. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. After the date of this press release, we do not intend to update any of the forward-looking statements to conform those statements to actual results or to changes in the Company's expectations, except as required by law.

CONTACT: Investor Relations: Westwicke Partners on behalf of Alliqua BioMedical, Inc. Mike Piccinino, CFA +1-443-213-0500 AlliquaBiomedical@westwicke.com

Source:Alliqua BioMedical, Inc.