Biohaven Prices Offering Of $230 Mln Of Shares At $41/share; Stock Down In Pre-Market

(RTTNews) - Biohaven Ltd. (BHVN) on Thursday announced the pricing of its underwritten public offering of 5,609,757 shares at $41 per share for gross proceeds of around $230 million.

In addition, Biohaven has granted the underwriters a 30-day option to purchase up to 841,463 shares at the public offering price.

Biohaven intends to use the net proceeds for general corporate purposes.

The offering is expected to be closed on April 22.

J.P. Morgan, Morgan Stanley, TD Cowen, and Piper Sandler & Co. are acting as the joint lead book-running managers of the offering.

BHVN was trading down by 4.43 percent at $42.08 in the pre-market trade on the New York Stock Exchange.