Quarterly report pursuant to Section 13 or 15(d)

8. SUBSEQUENT EVENTS

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8. SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2016
Subsequent Events [Abstract]  
8. SUBSEQUENT EVENTS

In May 2016, the Company completed an underwritten public offering of 2,176,154 shares of its common stock, for gross proceeds of approximately $14.1 million.  Net proceeds from this offering were approximately $13.0 million, after payment of underwriting discounts and offering expenses of approximately $1.1 million.  The shares were sold under a shelf registration statement on Form S-3 (File No. 333-200638) that was declared effective by the SEC on December 23, 2014.

 

Additionally, in May 2016, the Company amended its LSA with Oxford.  This amdendment provided ADMA with an additional term loan of $4.0 million, the availability of which was predicated on the Company completing an equity raise of at least $10.0 million in gross proceeds by May 31, 2016. The Company subsequently borrowed the additional $4.0 million from Oxford under the amended LSA, and in connection therewith, the Company issued warrants to purchase an aggregate of up to 24,800 shares of the Company’s Common Stock at an exercise price equal to $6.37, which will expire seven years after their issuance on May 13, 2023 and incurred a facility fee of $20,000 as part of accessing the additional funding.