Biohaven (BHVN) prices its $225m public offering of common shares

<img width="250" height="132" src="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Biohaven-BHVN-prices-its-225m-public-offering-of-common-shares-iStock-1251892822-250×132.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Computer in lab" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Biohaven-BHVN-prices-its-225m-public-offering-of-common-shares-iStock-1251892822-250×132.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Biohaven-BHVN-prices-its-225m-public-offering-of-common-shares-iStock-1251892822-700×369.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Biohaven-BHVN-prices-its-225m-public-offering-of-common-shares-iStock-1251892822-768×405.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Biohaven-BHVN-prices-its-225m-public-offering-of-common-shares-iStock-1251892822-120×63.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Biohaven-BHVN-prices-its-225m-public-offering-of-common-shares-iStock-1251892822-245×129.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Biohaven-BHVN-prices-its-225m-public-offering-of-common-shares-iStock-1251892822-500×264.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Biohaven-BHVN-prices-its-225m-public-offering-of-common-shares-iStock-1251892822.jpg 1411w" sizes="(max-width: 250px) 100vw, 250px" /><p>Analysts pegged the gross proceeds of this public offering at about $225m. Should the customary closing conditions be met, the offering will close on 5th October 2023.</p>
<p>Biohaven indicated that the funds from this offering will go towards general corporate operations. The company appointed <a href="https://www.leaprate.com/forex/executives/jp-morgan-chase-executive-sarah-youngwood-joins-ubs-as-chief-financial-officer/" target="_blank" rel="noopener">J.P. Morgan</a>, TD Cowen, Leerink Partners, and Piper Sandler as lead book-running managers. At the same time, William Blair acts as book-runner for the offering and BTIG as lead manager.</p>
<p>This company went public in 2017, listing 9,900,000 common shares for $17 each. With its IPO, Biohaven raked in an estimated $193.5m aggregate gross proceeds. At yesterday’s close, trading was down -3.53%, with shares trading at $23.22 on the New York Stock Exchange.</p>
<p>In October 2022, Pfizer (PFE) acquired all the outstanding shares of Biohaven Pharmaceutical Holding Company Ltd. for approximately $11.6bn, making it a wholly-owned subsidiary of Pfizer. 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.</p>
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<p>Biohaven remains committed to researching the latest medical solutions for common and rare diseases. On 14^th September 2023, Biohaven stated its enrolment completion in RESILIENT, a phase-3 pivotal study of taldefgrobep alfa and its role in spinal muscular dystrophy.</p>
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