BioCentury
ARTICLE | Financial News

ADMA amends IPO

September 26, 2013 1:11 AM UTC

ADMA Biologics Inc. (Hackensack, N.J.) again amended its IPO and now plans to sell 2.7 million shares at $8.50-$9.50. At the $9 midpoint, the company would raise $24 million and be valued at $76.8 million. In additional to Oppenheimer and Ladenburg Thalmaan, the company added Maxim Group and Laidlaw as underwriters. ADMA also dropped BMO Capital Markets as an underwriter.

In April, the company amended the IPO to sell 3.1 million shares at $8-$9. The $8.50 midpoint would have raised $26 million and valued the company at $75.9 million. Earlier that month, ADMA had amended the offering to sell 2.1 million shares at $13.50-$15.50. ADMA proposed to raise up to $34.5 million in an IPO in February after becoming a publicly reporting company via the Form 10 pathway last year (see BioCentury, Feb. 20, 2012). ...