SAN DIEGO, April 26, 2017 (GLOBE NEWSWIRE) -- Adamis Pharmaceuticals Corporation (NASDAQ:ADMP), a specialty biopharmaceutical company focused on developing and commercializing products in the therapeutic areas of respiratory disease and allergy, announced today the closing of its previously announced underwritten public offering of 4,285,715 shares of its common stock at a public offering price of $3.50 per share, as well as 642,857 additional shares of its common stock pursuant to the full exercise of the over-allotment option granted to the underwriters.
The gross proceeds are expected to be approximately $17,250,000, before deducting underwriting discounts and commissions and estimated offering expenses payable by the company.
Raymond James & Associates, Inc. acted as the sole book-running manager of the offering, and Maxim Group LLC acted as a co-manager for the offering.
The company intends to use the net proceeds of the offering for general corporate purposes, which may include, without limitation, relating to research, development and clinical trials relating to the company’s products and product candidates, capital expenditures, hiring additional personnel, acquisitions of new technologies or products, the repayment, refinancing, redemption or repurchase of existing or future indebtedness or capital stock and working capital.
The securities described above were issued by the company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-196976) previously filed with and declared effective by the Securities and Exchange Commission (SEC) on July 2, 2014, and a related automatically effective registration statement filed pursuant to Rule 462(b) of the Securities Act of 1933. A final prospectus supplement and an accompanying prospectus relating to the offering was filed with the SEC on April 21, 2017. Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained by contacting Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida, or by telephone at (800) 248-8863, or e-mail at email@example.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or other 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 Adamis Pharmaceuticals Corporation
Adamis Pharmaceuticals Corporation is a specialty biopharmaceutical company focused on developing and commercializing products in the therapeutic areas of respiratory disease and allergy. The company’s current specialty pharmaceutical product candidates include Epinephrine Injection pre-filled syringe product for use in the emergency treatment of acute allergic reactions, including anaphylaxis; albuterol (APC-2000) and fluticasone (APC-4000) dry powder inhaler products for the treatment of bronchospasm and asthma; and beclomethasone (APC-1000), a metered dose inhaler product for the treatment of asthma. The Company’s U.S. Compounding, Inc. subsidiary, which is registered as a drug compounding outsourcing facility under Section 503B of the U.S. Food, Drug & Cosmetic Act and the U.S. Drug Quality and Security Act, provides prescription compounded medications, including compounded sterile preparations and non-sterile compounds, to patients, physician clinics, hospitals, surgery centers and other clients throughout most of the United States. USC’s offerings broadly include, among others, injectable corticosteroids, hormone replacement therapies, hospital outsourcing formulations, urological preparations, ophthalmic preparations, topical compounds for pain and men’s and women’s health formulations.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the public offering and the intended use of proceeds from the offering and statements about the progress of the commercialization of its epinephrine pre-filled syringe product and the development of the company’s product candidates. These forward-looking statements also are subject to risks, uncertainties and assumptions, including those detailed from time to time in the company’s filings with the SEC, and represent the company’s views only as of the date they are made and should not be relied upon as representing the company’s views as of any subsequent date. The company’s actual results may differ materially from those contemplated by these forward-looking statements. Except to the extent required by law, the company does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this press release.
Contact Adamis Mark Flather Senior Director, Investor Relations & Corporate Communications (858) 412-7951 firstname.lastname@example.org
Source:Adamis Pharmaceuticals Corporation