Adamas Pharmaceuticals Announces Launch of Follow-on Public Offering

Rhea-AI Summary

Adamas Pharmaceuticals (Nasdaq: ADMS) has launched an underwritten public offering of its common stock, exclusively offering shares from the company. The offering includes a 30-day option for underwriters to purchase an additional 15% of shares. This move is subject to market conditions, with no guarantees on the offering's completion, size, or terms. SVB Leerink and William Blair serve as joint bookrunning managers, with JMP Securities as the lead manager. Shares are offered under a previously filed shelf registration statement with the SEC.

Positive

• The capital raised through the offering could be utilized to support the development of Adamas' neurological therapies, potentially driving future growth.

Negative

• The offering may lead to shareholder dilution, impacting existing shareholders' ownership percentage.
• Market conditions may adversely affect the offering, leading to uncertainty regarding completion and terms.

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 that it has commenced an underwritten public offering of its common stock. All shares of common stock to be sold in the offering will be offered by Adamas. Adamas intends to grant the underwriters a 30-day option to purchase up to an aggregate of an additional 15% of the shares of its common stock offered in the public offering. 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.

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

The securities described above are being offered by Adamas pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, 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.

This press release shall not constitute an offer to sell or a 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 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.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to Adamas’ expectations regarding the proposed public offering. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. Adamas cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, risks and uncertainties related to market conditions, and the satisfaction of customary closing conditions related to the proposed public offering. Risks and uncertainties relating to Adamas and its business can be found in the “Risk Factors” section of Adamas’ Form 10-K for the year ended December 31, 2020, filed with the SEC on February 23, 2021, and in the preliminary prospectus supplement related to the proposed public offering filed with the SEC on February 24, 2021. Adamas undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in Adamas’ expectations, except as required by law.

Source: Adamas Pharmaceuticals, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210224006070/en/

FAQ

What is the purpose of Adamas Pharmaceuticals' public offering?

The public offering aims to raise capital for the development of therapies addressing neurological diseases.

What is the size of the offering by Adamas Pharmaceuticals?

The offering size is not specified, but includes a 30-day option for underwriters to purchase an additional 15% of shares.

Who are the underwriters for the Adamas Pharmaceuticals stock offering?

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

What risks are associated with the public offering by Adamas Pharmaceuticals?

Risks include potential shareholder dilution and uncertainties related to market conditions affecting the offering's completion.