Adamis Pharmaceuticals Announces $3.0 Million Registered Direct Offering
14 Março 2023 - 9:30AM
Adamis Pharmaceuticals Corporation (NASDAQ: ADMP), a
commercial-stage biopharmaceutical company primarily focused on
developing and commercializing products in various therapeutic
areas, including opioid overdose, allergy, respiratory and
inflammatory disease, today announced it has entered into a
securities purchase agreement with a single, healthcare-focused
institutional investor for the purchase and sale of 16,500,000
shares of its common stock and pre-funded warrants to purchase up
to 7,500,000 shares of common stock, together with warrants to
purchase up to 48,000,000 shares of common stock, at a combined
purchase price of $0.125 per share (and $0.1249 per pre-funded
warrant) and accompanying warrants, pursuant to a registered direct
offering. The warrants will have an exercise price of $0.138 per
share, will be initially exercisable beginning six months following
the date of issuance and will expire five years and six months from
the date of issuance.
The closing of the offering is expected to occur on or about
March 16, 2023, subject to the satisfaction of customary closing
conditions. The gross proceeds from the offering are expected to be
approximately $3.0 million, before deducting fees and other
estimated offering expenses. The Company intends to use the net
proceeds from the offering for general working capital
purposes.
This offering is being made pursuant to an effective shelf
registration statement on Form S-3 (File No 333-267365) previously
filed with the U.S. Securities and Exchange Commission (the “SEC”).
A prospectus supplement describing the terms of the proposed
offering will be filed with the SEC and will be available on the
SEC’s website located at http://www.sec.gov.
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 Adamis Pharmaceuticals
Adamis Pharmaceuticals Corporation is a specialty
biopharmaceutical company focused on developing and commercializing
products in various therapeutic areas, including opioid overdose,
allergy, respiratory and inflammatory disease. Company products
approved by the FDA include ZIMHI® (naloxone) Injection for the
treatment of opioid overdose and SYMJEPI® (epinephrine) Injection
for use in the emergency treatment of acute allergic reactions,
including anaphylaxis. For additional information about Adamis
Pharmaceuticals, please visit our website and follow us
on Twitter and LinkedIn.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include those
that express plans, anticipation, intent, contingencies, goals,
targets or future development and/or otherwise are not statements
of historical fact. These statements are only predictions and
involve known and unknown risks, uncertainties, and other factors,
which may cause Adamis’ actual results to be materially different
from the results anticipated by such forward-looking statements.
Accordingly, you should not rely upon forward-looking statements as
predictions of future events. Adamis cannot assure you that the
events and circumstances reflected in the forward-looking
statements will be achieved or occur, and actual results could
differ materially from those projected in the forward-looking
statements. Factors that could cause actual results to differ
materially from management’s current expectations include those
risks and uncertainties relating to: the satisfaction of closing
conditions and the closing of the offering; our ability to raise
capital; our cash flow, expenses, obligations and liabilities; the
outcome of any litigation, regulatory proceedings, inquiries or
investigations that we are or may become subject to; and other
important factors discussed in the Company’s filings with the
Securities and Exchange Commission (“SEC”). If we do not obtain
required additional equity or debt funding, our cash resources will
be depleted and we could be required to materially reduce or
suspend operations, which would likely have a material adverse
effect on our business, stock price and our relationships with
third parties with whom we have business relationships, at least
until additional funding is obtained. If we do not have sufficient
funds to continue operations or satisfy out liabilities, we could
be required to seek bankruptcy protection or other alternatives to
attempt to resolve our obligations and liabilities that could
result in our stockholders losing some or all of their investment
in us. You should not place undue reliance on any forward-looking
statements. Further, any forward-looking statement speaks only as
of the date on which it is made, and except as may be required by
applicable law, we undertake no obligation to update or release
publicly the results of any revisions to these forward-looking
statements or to reflect events or circumstances arising after the
date of this press release. Certain of these risks and additional
risks, uncertainties, and other factors are described in greater
detail in Adamis’ filings from time to time with the SEC, including
its annual report on Form 10-K for the year ended December 31,
2021, and subsequent filings with the SEC, which Adamis strongly
urges you to read and consider, all of which are available free of
charge on the SEC’s website at http://www.sec.gov.
Contacts:
Adamis Investor RelationsRobert
UhlManaging DirectorICR Westwicke619.228.5886
Adamis Pharmaceuticals (NASDAQ:ADMP)
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