Adamis Pharmaceuticals Announces Proposed Public Offering of Common Stock
January 28 2021 - 4:01PM
Adamis Pharmaceuticals Corporation (Nasdaq: ADMP), a specialty
biopharmaceutical company focused on developing and commercializing
products in various therapeutic areas, including allergy, opioid
overdose, respiratory and inflammatory disease, announced today
that it intends to offer to sell shares of its common stock in an
underwritten public offering. The company expects to grant the
underwriters of the offering a 30-day option to purchase up to an
additional 15% of the number of shares of common stock offered in
the public offering. The proposed offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
Raymond James & Associates, Inc. will act as the sole
book-running manager for the proposed offering.
The company intends to use the net proceeds from this offering
for general corporate purposes, which may include, without
limitation, expenditures relating to research, development and
clinical trials relating to its products and product candidates,
capital expenditures, manufacturing, hiring additional personnel,
acquisitions of new technologies or products, the payment,
repayment, refinancing, redemption or repurchase of existing or
future indebtedness, obligations or capital stock, and working
capital.
The securities described above will be offered by the company
pursuant to a “shelf” registration statement on Form S-3 (File No.
333-226100) previously filed with and declared effective by the
Securities and Exchange Commission (SEC) on July 18, 2018. A
preliminary prospectus supplement and an accompanying prospectus
relating to the offering will be filed with the SEC. Electronic
copies of the preliminary prospectus supplement and the
accompanying prospectus relating to the offering may be obtained,
when available, from Raymond James & Associates, Inc.,
Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg,
Florida 33716, by telephone at (800) 248-8863, by e-mail at
prospectus@raymondjames.com, or by accessing the SEC’s website at
www.sec.gov.
Before investing in the offering, you should read in their
entirety the preliminary prospectus supplement and the accompanying
prospectus and the other documents that the company has filed with
the SEC that are incorporated by reference in the preliminary
prospectus supplement and the accompanying prospectus, which
provide more information about the company.
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 primarily focused on developing and
commercializing products in various therapeutic areas, including
allergy, opioid overdose, respiratory and inflammatory disease.
The company’s SYMJEPI (epinephrine) Injection products are
approved by the FDA for use in the emergency treatment of acute
allergic reactions, including anaphylaxis. Adamis’ naloxone
injection product candidate, ZIMHI, for the treatment of opioid
overdose is currently under FDA review. Adamis is developing
additional products, including treatments for acute respiratory
diseases, such as COVID-19, influenza, asthma and COPD. The
company’s subsidiary, US Compounding Inc., compounds sterile
prescription drugs, and certain nonsterile drugs for human and
veterinary use by hospitals, clinics, surgery centers, and vet
clinics throughout most of the United States.
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 proposed public offering
and the intended use of proceeds from the offering and statements
about the progress of development of the company’s product
candidates. The offering is subject to market and other conditions,
and there can be no assurance as to whether or when the offering
may be completed or as to the actual size or terms of the offering.
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.
Contacts:Mark FlatherSenior Director, Investor
Relations& Corporate CommunicationsAdamis Pharmaceuticals
Corporation(858) 412-7951mflather@adamispharma.com
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