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By The Online Investor Staff, updated Thu., Apr. 18, 11:49 PM
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Secondary Stock Offerings| This Slide: #3 of 25 |
Slide #3. Biohaven Ltd. — Secondary Offering
Company:
Biohaven Ltd. (NYSE:BHVN)
Date announced:
4/17/2024
Shares Offered:
5,609,757
Date of Pricing:
4/18/2024
Price Per Share:
$41.00
Secondary Offering Details:
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. -updated 4/18- 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 pricing of its underwritten public offering of 5,609,757 of its common shares at a price to the public of $41.00 per share. In addition, Biohaven has granted the underwriters a 30-day option to purchase up to an additional 841,463 common shares at the public offering price, less underwriting discounts, and commissions. The gross proceeds from the offering are expected to be approximately $230 million before deducting underwriting discounts and commissions and offering expenses payable by Biohaven. The offering is expected to close on April 22, 2024, subject to satisfaction of customary closing conditions. Biohaven intends to use the net proceeds received from the offering for general corporate purposes.
Biohaven is a clinical-stage biopharmaceutical company focused on therapies for patients with neurological and neuropsychiatric diseases. Co. has obtained drug approvals for products for diseases such as migraine, depression, bipolar and schizophrenia, and its research programs, develop therapies with indications in epilepsy, mood disorders, Obsessive-Compulsive Disorder, Spinocerebellar Ataxia, Spinal Muscular Atrophy and pain disorders. Co.'s neuroscience portfolio includes a range of pipeline of drug candidates modulating distinct nervous system targets, including Kv7 ion channels, glutamate receptors, myostatin, and transient receptor potential channels.
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Avg. Broker Rec.
 
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Strong Buy (3.91 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: BHVN Stock Forecast Based on Zacks ABR data; powered by Xignite |
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