Adamas Pharmaceuticals Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Rhea-AI Summary

Adamas Pharmaceuticals (Nasdaq: ADMS) has successfully closed its underwritten public offering of 12,500,000 shares of common stock, augmented by the underwriters' option for an additional 1,875,000 shares, priced at $4.40 each. The estimated net proceeds from this offering are anticipated to be $59.2 million after costs. SVB Leerink and William Blair served as joint bookrunning managers, with JMP Securities acting as lead manager. The offering was conducted under a shelf registration previously filed with the SEC, ensuring compliance and transparency.

Positive

• Raised $59.2 million in net proceeds to support business operations and growth.
• Successful public offering reflects investor confidence in the company's potential.

Negative

• Dilution of existing shares for current shareholders due to the issuance of new shares.

Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS), a company dedicated to developing and delivering medicines that make a meaningful difference to people affected by neurological diseases, today announced the closing of its previously announced underwritten public offering of 12,500,000 shares of its common stock, plus the exercise in full by the underwriters of their option to purchase an additional 1,875,000 shares, at a price to the public of $4.40 per share. The estimated net proceeds of the offering to Adamas, after deducting underwriting discounts and commissions and other offering expenses, are expected to be $59.2 million.

SVB Leerink and William Blair acted as joint bookrunning managers for the offering. JMP Securities acted as lead manager for the offering.

The securities described above were offered by Adamas pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC"). The final prospectus supplement and accompanying prospectus related to this offering were filed with the SEC and are available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained, from: SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808 7525, ext. 6105, or by email at syndicate@svbleerink.com; or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, telephone: 1-800-621-0687, or by email: prospectus@williamblair.com.

About Adamas

At Adamas our vision is clear – to deliver innovative medicines that reduce the burden of neurological diseases on patients, caregivers and society. We are a fully integrated company focused on growing a portfolio of therapies to address a range of neurological diseases.

Source: Adamas Pharmaceuticals, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210301005925/en/

FAQ

What is the purpose of Adamas Pharmaceuticals' recent stock offering?

The offering aims to raise funds for business operations, potentially supporting the development of innovative neurological therapies.

How much did Adamas Pharmaceuticals raise in its public offering?

Adamas Pharmaceuticals raised an estimated $59.2 million in net proceeds from the offering.

What is the stock price for the shares offered by Adamas Pharmaceuticals?

The shares were offered at a public price of $4.40 each.

When did Adamas Pharmaceuticals close the stock offering?

The stock offering was announced as closed on the same day as the press release.

Who managed the stock offering for Adamas Pharmaceuticals?

SVB Leerink and William Blair acted as joint bookrunning managers, with JMP Securities as the lead manager.