Adamis Pharmaceuticals Announces Pricing Of Public Offering Of Common Stock

SAN DIEGO, April 21, 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 pricing 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, resulting in gross proceeds of approximately $15,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the company. 

The offering is expected to close on April 26, 2017, subject to the satisfaction of customary closing conditions.The company has also granted the underwriters a 30-day option to purchase up to 642,857 additional shares of its common stock to cover over-allotments, if any.

Raymond James & Associates, Inc. is acting as the sole book-running manager for the proposed offering, and Maxim Group LLC is acting 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, expenditures 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 are being offered 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.A preliminary prospectus supplement and the related prospectus have been filed with the SEC and are available on the SEC’s website at www.sec.gov. A final prospectus supplement and an accompanying prospectus related to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov.When available, copies of the final 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 prospectus@raymondjames.com.

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