 CELEBRATION, Fla., June 18, 2021 GLOBE NEWSWIRE -- KemPharm, Inc. NASDAQ: KMPH, a specialty pharmaceutical company focused on the discovery and development of proprietary prodrugs, today announced it has entered into agreements with certain of its holders of its existing warrants exercisable for 6,117,509 shares of its common stock, in the aggregate, pursuant to which such holders agreed to exercise their warrants for cash in exchange for the Companys agreement to issue in a private placement new warrants to purchase up to 1,529,379 shares of its common stock. The new warrants are immediately exercisable and have substantially the same terms as the existing warrants, except that the new warrants have an exercise price of 16.50 per share and expire on December 31, 2026. The aggregate gross proceeds from the exercise of the existing warrants and the issuance of the new warrants are expected to total approximately 39.1 million, before deducting the financial advisory fees. 