Full Press Release Details
ANI Pharmaceuticals, Inc. Announces Proposed
Public Offering of Common Stock
Baudette, Minnesota, November 3, 2021-ANI
Pharmaceuticals, Inc. (NASDAQ: ANIP) ("ANI") today announced that it intends to offer and sell shares of its common stock
in an underwritten public offering. All of the shares to be sold in the offering will be offered by ANI. The offering is subject to market
conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the
offering. In addition, ANI intends to grant the underwriters a 30-day option to purchase up to an additional 15% of shares of its common
stock offered in the public offering.
Guggenheim Securities is acting as book-running
ANI anticipates using the net proceeds from
the offering to fund its Cortrophin commercialization efforts, including, but not limited to, sales and marketing and consulting expenses
related thereto, and for general corporate purposes. We may also use a portion of the net proceeds to in-license, acquire or invest in
additional businesses, technologies, products or assets.
The securities described above are being offered
by ANI pursuant to a shelf registration statement on Form S-3 (File No. 333-239771) which was initially filed by the Company with the
Securities and Exchange Commission (the "SEC") on July 9, 2020, and was declared effective by the SEC on July 17, 2020.
The securities will be offered only by means
of a prospectus supplement and accompanying prospectus relating to the offering that form a part of the registration statement. A preliminary
prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC
and will be available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement, when available, and
accompanying prospectus relating to the offering may be obtained from Guggenheim Securities, LLC, Attention: Equity Syndicate Department,
330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
This press release shall not constitute
an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
About ANI Pharmaceuticals, Inc.
ANI Pharmaceuticals, Inc. is an integrated
specialty pharmaceutical company focused on delivering value to our customers by developing, manufacturing, and marketing high quality
branded and generic prescription pharmaceuticals, including for diseases with high unmet medical need. We focus on niche and high barrier-to-entry
opportunities including controlled substances, oncology products (anti-cancers), hormones and steroids, and complex formulations.
Forward-Looking Statements
This press release contains forward-looking
statements. All statements other than statements of historical facts contained herein, including without limitation statements regarding
the offer and sale of shares, the terms of the offering and expected use of proceeds are forward-looking statements reflecting the current
beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause ANI's
actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed
or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risks and uncertainties related
to market conditions and satisfaction of customary closing conditions related to the offering, as well as the risks and uncertainties
set forth in ANI's Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Reports on Form 10-Q filed with
the SEC on May 7, 2021, August 6, 2021 and November 1, 2021, the preliminary prospectus supplement related to the proposed public offering
and subsequent filings with the SEC. Any of these risks and uncertainties could materially and adversely affect ANI's results of
operations, which would, in turn, have a significant and adverse impact on ANI's stock price. Any forward-looking statements contained
in this press release speak only as of the date hereof, and ANI specifically disclaims any obligation to update any forward-looking statement,
whether as a result of new information, future events or otherwise.
Lisa M. Wilson, In-Site Communications, Inc.