Biohaven Announces $200M Public Offering Of Common Shares
Portfolio Pulse from Benzinga Newsdesk
Biohaven Ltd. (NYSE:BHVN) has initiated a public offering of $200 million of its common shares, with an option for the underwriter to purchase an additional $30 million. The proceeds are intended for general corporate purposes. J.P. Morgan Securities LLC is the book-running manager.
April 17, 2024 | 8:15 pm
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Biohaven announces a $200M public offering of common shares, potentially expanding to $230M, managed by J.P. Morgan Securities. Funds are for corporate purposes.
Public offerings often lead to short-term stock price declines due to the dilution of existing shares. The announcement of such a significant offering could pressure Biohaven's stock in the short term, despite the potential long-term benefits of increased capital for corporate purposes.
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