Biohaven Sets the Stage with a $225 Million Public Offering: What Lies Ahead?

Biohaven Ltd. (NYSE: BHVN), a global clinical-stage biopharmaceutical company dedicated to discovering, developing, and commercializing transformative therapies for a wide range of rare and common diseases, has announced the pricing of its underwritten public offering. The company plans to offer 10,227,273 of its common shares to the public at a price of $22.00 per share.

In addition to the initial offering, Biohaven has granted the underwriters a 30-day option to purchase up to an additional 1,534,090 common shares at the same public offering price, with underwriting discounts and commissions applied.

The gross proceeds from the offering are expected to be approximately $225 million, before any deductions for underwriting discounts, commissions, and offering expenses payable by Biohaven.

The offering is anticipated to close on October 5, 2023, subject to the fulfillment of standard closing conditions. Biohaven intends to utilize the net proceeds generated from this offering for general corporate purposes.

The underwritten public offering of Biohaven Ltd. is being managed by a group of leading financial institutions. J.P. Morgan, TD Cowen, Leerink Partners, and Piper Sandler are serving as the joint lead book-running managers of the offering. William Blair is also participating as a book-runner in the offering, while BTIG is taking on the role of lead manager.

For those interested in obtaining more information about the offering, copies of the prospectus supplement and the accompanying prospectus can be obtained from J.P. Morgan Securities LLC at the following address: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717.

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