NEW
HAVEN, Conn., April 22,
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 the closing of its underwritten public
offering of 6,451,220 of its common shares, which includes the full
exercise of the underwriters' option to purchase 841,463 additional
common shares, at a public offering price of $41.00 per share.
The gross proceeds from the offering were
approximately $264.5 million before deducting underwriting
discounts and commissions and offering expenses payable by
Biohaven. Biohaven intends to use the net proceeds received from
the offering for general corporate purposes.
J.P. Morgan, Morgan Stanley, TD Cowen, and Piper Sandler & Co. acted as the joint lead
book-running managers of the offering. Cantor acted as a
book-runner of the offering. Baird also acted as a book-runner of
the offering.
The offering was made only by means of a prospectus supplement
and the accompanying prospectus, copies of which may be obtained
from the offices of the following: 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,
Morgan Stanley & Co. LLC, Attention: Prospectus Department,
180 Varick Street, 2nd Floor, New
York, New York 10014, TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (855)
495-9846 or by email at TD.ECM_Prospectus@tdsecurities.com, and
Piper Sandler & Co., 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, Attention:
Prospectus Department, by telephone at (800) 747-3924 or by email
at prospectus@psc.com.
The shares were issued pursuant to an effective shelf
registration statement on Form S-3. Copies of the registration
statement can be accessed through the SEC's website
at www.sec.gov. 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 expected use of proceeds therefrom, 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 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.
