Adamis Pharmaceuticals Units Drop 66% After $8M Offering Prices

Dow Jones2023-08-02

By Chris Wack

Adamis Pharmaceuticals units were down 66% at $1.37 after the company priced its public offering of 5.9 million units at $1.35 a unit.

The stock closed Tuesday's session up 179% on no news, and is down 95% in the past 12 months.

Each unit consists of one share of common stock and one warrant to buy one share of stock.

The warrants will be immediately exercisable at an exercise price of $1.35 a share and will expire five years from the date of issuance. The shares of stock and accompanying warrants can only be purchased together in this offering, but will be issued separately and will be immediately separable upon issuance.

Proceeds are expected to be $8 million. The offering is expected to close on Friday.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

August 02, 2023 11:09 ET (15:09 GMT)

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Comments

  • yong168
    2023-08-02
    yong168
    opioid and cannabis producers should invest in Adamis Pharmaceuticals: 1. Market Potential: Highlight the growing market demand for solutions to reduce opioid overdose deaths. With Adamis Pharmaceuticals' focus on R&D in this area, investing in the company could present a valuable opportunity to tap into a potentially lucrative market. 2. Positive Social Impact: Emphasize the positive social impact that reducing opioid overdose deaths can have on communities and families affected by addiction. By supporting Adamis Pharmaceuticals, these producers can contribute to saving lives and making a difference in the opioid crisis. 3. Diversification of Portfolio: Investing in a pharmaceutical company like Adamis can diversify their product portfolio and reduce dependency on a single industry. T
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