NEW
HAVEN, Conn., April 17,
2024 /PRNewswire/ -- Biohaven Ltd. (NYSE: BHVN),
a biopharmaceutical company focused on the discovery, development
and commercialization of life-changing treatments in key
therapeutic areas, including immunology, neuroscience and oncology,
today announced that it has commenced an underwritten public
offering of $200 million of its
common shares. All of the common shares to be sold in the offering
will be offered by Biohaven. In addition, Biohaven expects to grant
the underwriter a 30-day option to purchase up to an additional
$30 million of common shares at the
public offering price, less underwriting discounts and commissions.
The offering is subject to market and other conditions, and there
can be no assurance as to whether or when the offering may be
completed, or the actual size or terms of the offering. Biohaven
intends to use the net proceeds received from the offering for
general corporate purposes.
J.P. Morgan Securities LLC is acting as the book-running manager
of the offering.
The offering is being made only by means of a prospectus
supplement and the accompanying prospectus, copies of which, when
available, may be obtained from the offices of J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717,
by telephone at (866) 803-9204, or by email at
prospectus-eq_fi@jpmchase.com.
The shares will be issued pursuant to an effective shelf
registration statement on Form S-3. Before investing in the
offering, interested parties should read the prospectus and related
prospectus supplement for this offering, the documents incorporated
by reference therein and the other documents Biohaven has filed
with the Securities and Exchange Commission. This press release
shall not constitute an offer to sell or a solicitation of an offer
to buy any of these securities, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the applicable securities laws of such state
or jurisdiction.
Forward-looking Statements
This news release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
The use of certain words, including "continue", "plan", "will",
"believe", "may", "expect", "anticipate" and similar expressions,
is intended to identify forward-looking statements. Investors are
cautioned that any forward-looking statements, including statements
regarding the timing, size and completion of the proposed public
offering as well as the expected use of proceeds related thereto
are not guarantees of future performance or results and involve
substantial risks and uncertainties. Actual results, developments
and events may differ materially from those in the forward-looking
statements as a result of various factors including: Biohaven's
ability to complete the offering of its common shares on the
proposed terms, or at all, changes in market conditions, and
Biohaven's expectations related to the use of proceeds from the
offering of its common shares. Additional important factors to be
considered in connection with forward-looking statements are
described in Biohaven's filings with the Securities and Exchange
Commission, including within the sections titled "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations". The forward-looking statements are made as
of the date of this new release, and Biohaven does not undertake
any obligation to update any forward-looking statements, whether as
a result of new information, future events or otherwise, except as
required by law.
Investor Contact:
Jennifer Porcelli
Vice-President, Investor Relations
jennifer.porcelli@biohavenpharma.com
(201) 248-0741
Media Contact:
Mike Beyer
Sam Brown Inc.
mikebeyer@sambrown.com
312-961-2502
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SOURCE Biohaven Ltd.
