Biohaven Reports Pricing Of Public Offering Of 5.609M Of Its Common Shares At $41 Per Share
Portfolio Pulse from Benzinga Newsdesk
Biohaven has announced the pricing of its public offering of 5.609 million common shares at $41 each, expecting to raise approximately $230 million before fees. The net proceeds will be used for general corporate purposes.
April 18, 2024 | 10:02 am
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Biohaven's public offering of 5.609 million shares at $41 aims to raise about $230 million for general corporate purposes.
The announcement of a new share offering typically has a neutral to slightly negative short-term impact on a company's stock price due to the dilutive effect of increasing the number of shares outstanding. However, the intended use of the proceeds for general corporate purposes could be viewed positively if investors believe it will contribute to the company's long-term growth.
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