Adamis Pharmaceuticals Prices $45 Million Share Offering; Shares Down 17%
Adamis Pharmaceuticals (ADMP) said Friday it priced an underwritten public offering of about 40.5 million common shares at $1.11 each for proceeds of about $45 million.
The company granted the underwriters a 30-day option to purchase up to about 6.1 million additional shares at the same offering price. Adamis said it expects the offering to close on Feb. 2 and proceeds will be used for general working capital.
Shares were down 17% in morning trading.
Price: 1.16, Change: -0.24, Percent Change: -17.14
Adamis Pharmaceuticals (ADMP) said Friday it priced an underwritten public offering of about 40.5 million common shares at $1.11 each for proceeds of about $45 million.
The company granted the underwriters a 30-day option to purchase up to about 6.1 million additional shares at the same offering price. Adamis said it expects the offering to close on Feb. 2 and proceeds will be used for general working capital.
Shares were down 17% in morning trading.
Price: 1.16, Change: -0.24, Percent Change: -17.14