Adamas Pharmaceuticals Announces Pricing of Follow-on Public Offering
February 24 2021 - 9:16PM
Business Wire
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 pricing of its underwritten public offering of
12,500,000 shares of its common stock at a price to the public of
$4.40 per share. All of the shares in the offering are being sold
by Adamas. The gross proceeds of the offering to Adamas, before
deducting underwriting discounts and commissions and other offering
expenses, are expected to be $55.0 million, excluding any exercise
of the underwriters’ option. Adamas has granted the underwriters a
30-day option to purchase up to an additional 1,875,000 shares of
its common stock offered in the public offering. The offering is
expected to close on March 1, 2021, subject to customary closing
conditions.
SVB Leerink and William Blair are joint bookrunning managers for
the offering. JMP Securities is 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"). The offering is being made only by means of a
prospectus supplement and accompanying prospectus, which will be
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, 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 Pharmaceuticals, Inc.
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 completion of the 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, the closing of the
offering is subject to the satisfaction of customary closing
conditions. 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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210224006216/en/
Media: Sarah Mathieson Vice President, Corporate
Communications 510-450-3528 smathieson@adamaspharma.com
Investors: Peter Vozzo Managing Director Westwicke/ICR
443-213-0505 peter.vozzo@westwicke.com
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