NEW
HAVEN, Conn., Oct. 2, 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 closing of its
underwritten public offering of 6,052,631 of its common shares,
which includes the full exercise of the underwriters' option to
purchase 789,473 additional common shares, at a public offering
price of $47.50 per share. The gross proceeds from the
offering were approximately $287.5 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, Jefferies and TD Cowen are acting
as the joint lead book-running managers 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, or by email at
prospectus-eq_fi@jpmchase.com and
postsalemanualrequests@broadridge.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 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.
