Biohaven Pharmceuticals (BHVN)

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Biohaven Shares Hit 52-Week High After Public Offering Prices
10:40 am ET October 21, 2022 (Dow Jones) Print

By Chris Wack


Biohaven Ltd. shares were up 17% to $13.98 Friday after the biopharmaceutical company said it priced a public offering of 25 million common shares at $10.50 each.

The stock hit a 52-week high of $15.33 earlier in the session.

The company has granted the underwriters a 30-day option to buy up to an additional 3.75 million shares.

The offering is expected to close on Tuesday, subject to the satisfaction of customary closing conditions.

Biohaven said it intends to use the proceeds received from the offering for general corporate purposes.