Analysts estimated the gross proceeds for this public offering as being around $225m. The offering will be closed on the 5th October, 2023, if the closing conditions are met.
Biohaven stated that funds raised from this offering would be used for general corporate operations. J.P. Morgan appointed TD Cowen as the lead book-running manager. Piper Sandler, Leerink Partners and J.P. Morgan were also named. William Blair is the bookrunner and BTIG the lead manager.
The company went public on the stock market in 2017. It listed 9,900,000.000 common shares, each priced at $17. Biohaven generated approximately $193.5m gross proceeds from its IPO. At yesterday’s close, trading was down -3.53%, with shares trading at $23.22 on the New York Stock Exchange.
Pfizer acquired Biohaven Pharmaceuticals Holding Company Ltd. in October 2022 for approximately $11.6bn. It became a Pfizer subsidiary. Biohaven Ltd. retained the company’s non-CGRP development stage pipeline compounds and continues to trade as an independent on the NYSE under the BHVN ticker.
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