NEW
HAVEN, Conn., Sept. 30,
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 that it has commenced an underwritten public offering of
$250 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 $37.5 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 and Morgan Stanley are acting as 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 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 or from the offices of
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York,
NY 10014, or by email at prospectus@morganstanley.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 news 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.
