Thursday, August 1, 2019

Adamis Pharmaceuticals (ADMP) Crashes

Adamis Pharmaceuticals (ADMP) needs more money, so they're floating more stock (dilution).
"[The company] is offering of 12,000,000 shares of its common stock and warrants to purchase up to 12,000,000 shares of its common stock. Each share of common stock is being sold together with a warrant to purchase one share of common stock for a combined public offering price of $1.00, resulting in gross proceeds of approximately $12,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the company and excluding the proceeds from the exercise of any warrants. All shares of common stock and warrants to purchase common stock to be sold in the public offering are being sold by Adamis. The warrants will be exercisable commencing on the date of issuance, will expire five years from the date of issuance, and have an exercise price of $1.15 per share, subject to certain adjustments. The shares of common stock and warrants will be purchased together but will be issued separately and will be immediately separable upon issuance."

ADMP closed at $1.46 on 10 July 02019. At 8:14am MST on 1 August 02019 ADMP was at $0.97 (down +15% for the day).

16 days ago I bought some ADMP at $1.26. D'oh!

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