NEW
HAVEN, Conn., Oct. 1, 2024
/PRNewswire/ -- Biohaven Ltd. (NYSE: BHVN),a global
clinical-stage biopharmaceutical company focused on the discovery,
development and commercialization of life-changing therapies to
treat a broad range of rare and common diseases, today announced
the pricing of its underwritten public offering of 5,263,158 of its
common shares at a price to the public of $47.50 per share. In addition, Biohaven has
granted the underwriters a 30-day option to purchase up to an
additional 789,473 common shares at the public offering price, less
underwriting discounts and commissions. The gross proceeds
from the offering are expected to be approximately $250 million before deducting underwriting
discounts and commissions and offering expenses payable by
Biohaven. The offering is expected to close on October 2, 2024, subject to satisfaction of
customary closing conditions. Biohaven intends to use the net
proceeds received from the offering for general corporate
purposes.
J.P. Morgan, Morgan Stanley, Jefferies and TD Cowen are acting
as the joint lead book-running managers 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 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; from Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, NY 10014, or by email at
prospectus@morganstanley.com; Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877)
821-7388, or by email at Prospectus_Department@Jefferies.com; or 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.
The shares will be 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 closing of the public offering and 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 ability to complete the
offering of its common shares on the proposed terms, or at all, 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.
