NEW
HAVEN, Conn., Oct. 25,
2022 /PRNewswire/ -- Biohaven Ltd. (NYSE: BHVN) (the
"Company" or "Biohaven") today announced the closing of an
underwritten public offering of 28,750,000 of its common shares,
which includes the full exercise of the underwriters' option to
purchase 3,750,000 additional shares, at the public offering price
of $10.50 per share. The gross
proceeds raised in the offering, before deducting underwriting
discounts and estimated expenses of the offering payable by
Biohaven, were approximately $301.9
million.
J.P. Morgan, Cowen, SVB Securities and Piper Sandler acted as joint book-running
managers of the offering. Cantor and BTIG acted as
co-managers.
The securities described above were offered
by Biohaven pursuant to effective registration statements
on Form S-1, including a prospectus, that were previously filed
by Biohaven with the Securities and Exchange
Commission (the "SEC") and declared effective by
the SEC on October 20, 2022. Copies of the final
prospectus relating to the offering may be obtained from the
following sources: J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, by telephone at (866) 803-9204, or by email
at prospectus-eq_fi@jpmchase.com; Cowen and Company, LLC,
c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, Attention: Prospectus
Department, by telephone at (833) 297-2926 or by email at
PostSaleManualRequests@broadridge.com; SVB Securities LLC,
Attention: Syndicate Department, 53 State Street, 40th
Floor, Boston, MA 02109, or by telephone at (800)
808-7525, ext. 6105, or by email at
syndicate@svbsecurities.com; Piper Sandler & Co.,
Attention: Prospectus Department, 800 Nicollet Mall,
J12S03, Minneapolis, Minnesota 55402, or by telephone at
(800) 747-3924, or by email at prospectus@psc.com; or by
accessing 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 the securities, nor shall
there be any sale of the 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.
About Biohaven
Biohaven is a global clinical-stage biopharmaceutical company
focused on the discovery, development and commercialization of
life-changing therapies for people with debilitating neurological
and neuropsychiatric diseases, including rare disorders. The
Company is advancing a pipeline of best-in-class therapies for
diseases with little or no treatment options, leveraging its proven
drug development capabilities and proprietary platforms, including
Kv7 ion channel modulation for epilepsy and neuronal
hyperexcitability; glutamate modulation for obsessive-compulsive
disorder and spinocerebellar ataxia and myostatin inhibition for
neuromuscular diseases. Biohaven's portfolio of early- and
late-stage product candidates also includes discovery research
programs focused on TRPM3 channel activation for neuropathic pain
and CD-38 antibody recruiting, bispecific molecules for multiple
myeloma.
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 future development, timing and potential marketing
approval and commercialization of development candidates 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.
Additional important factors to be considered in connection with forward-looking
statements are described in Biohaven's Registration
Statement on Form S-1 filed with the SEC, 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.