Money used to repay $30 million senior secured time period mortgage facility to Ares Capital
Reduces ADMA Complete (EPA:) Debt at $75 million, a 29% discount
Additional helps earnings progress outlook
RAMSEY, NJ and BOCA RATON, Fla., December 20, 2024 (GLOBE NEWSWIRE) — ADMA Biologics, Inc. (Nasdaq: NASDAQ:) (ADMA or the Firm), an end-to-end industrial biopharmaceutical firm devoted to manufacturing, advertising and growing specialty biologics, as we speak introduced that it has repaid $30 million of its unique $62.5 million senior secured time period mortgage with Ares Capital. Following the partial compensation, ADMA additional diminished its complete gross debt to $75 million, comprised of its $42.5 million revolving credit score facility and $32.5 million now excellent underneath its credit score facility finally. The partial compensation was financed utilizing out there money.
“ADMA’s organically generated money stream enabled the compensation of $30 million of our senior secured credit score facility,” mentioned Adam Grossman, President and CEO of ADMA. The second compensation of our senior credit score facility in 4 months reduces our complete gross debt by 29%, and decrease curiosity expense ought to additional enhance our earnings progress potential within the speedy durations forward. This determination demonstrates our confidence in continued earnings progress and anticipated continued money era. optimize ADMA’s price of debt and fairness sooner or later.
About ADMA Biologics, Inc. (ADMA)
ADMA Biologics is an end-to-end industrial biopharmaceutical firm devoted to the manufacturing, advertising and improvement of specialty biologics for the remedy of immunocompromised sufferers liable to an infection and others in danger for sure infectious ailments. ADMA at present manufactures and markets three plasma-derived biologics authorised by the U.S. Meals and Drug Administration (FDA) for the remedy of immunodeficiencies and the prevention of sure infectious ailments: BIVIGAM ® (human intravenous immunoglobulin) for the remedy of major humoral ailments. immunodeficiency (IP); ASCENIV™ (human intravenous immunoglobulin “slra 10% liquid) for the remedy of IP; and NABI-HB ® (human hepatitis B immunoglobulin) to reinforce immunity towards the hepatitis B virus. ADMA manufactures its immunoglobulin merchandise in its FDA-approved plasma fractionation and purification facility, positioned in Boca Raton, Florida. By means of its subsidiary ADMA BioCenters, ADMA additionally operates as an FDA-approved supply plasma collector in the US, supplying its blood plasma for the manufacturing of its merchandise. ADMA’s mission is to fabricate, market and develop specialty biologics and human immunoglobulins for area of interest affected person populations for the remedy and prevention of sure infectious ailments and the administration of immunocompromised affected person populations who are suffering from an underlying immunodeficiency or who could also be immunocompromised. for different medical causes. ADMA holds quite a few U.S. and international patents regarding and encompassing numerous elements of its merchandise and product candidates. For extra data, please go to www.admabiologics.com.
Warning Concerning Ahead-Wanting Statements
This press launch incorporates forward-looking statements pursuant to the secure harbor provisions of the Non-public Securities Litigation Reform Act of 1995, regarding ADMA Biologics, Inc. (us, us or the Firm). Ahead-looking statements embody, with out limitation, any assertion that will predict, forecast, point out or suggest future outcomes, efficiency or achievements, and should comprise phrases reminiscent of assured, estimate, challenge, intend, forecast, goal, anticipate, plan, plan, anticipate, consider, will, is probably going, will probably, ought to, would possibly, would, might or, in every case, the adverse thereof, or phrases or expressions of comparable which means. These forward-looking statements embody, with out limitation, statements concerning the Firm’s future working outcomes, together with, however not restricted to, earnings progress prospects, money steadiness and price of debt and fairness of the Firm, in addition to the anticipated advantages. compensation of unpaid debt. Precise occasions or outcomes could differ materially from these described on this press launch because of quite a lot of necessary elements. Present and potential safety holders are cautioned that there will also be no assurance that any forward-looking statements included on this press launch will show to be correct. Besides to the extent required by relevant legal guidelines or guidelines, ADMA undertakes no obligation to replace any forward-looking statements or to announce revisions to any forward-looking statements. Ahead-looking statements are topic to quite a few dangers, uncertainties and different elements that might trigger our precise outcomes and the timing of sure occasions to vary materially from any future outcomes expressed or implied within the forward-looking statements, together with, however not restricted to restrict it. dangers and uncertainties described in our filings with the US Securities and Change Fee, together with our most up-to-date reviews on Types 10-Ok, 10-Q and 8-Ok, and any amendments thereto.
INVESTOR RELATIONS CONTACT:
Michelle Pappanastos
Senior Managing Director, Argot Companions | 212-600-1902 | michelle@argotpartners.com
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