BioMarin Pharma (BMRN) Prices 7.5M Common Stock Offering at $96/Share
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BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) announced the pricing of an underwritten public offering of 7,500,000 shares of its common stock at a price to the public of $96.00 per share. The gross proceeds to BioMarin from this offering are expected to be approximately $720.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by BioMarin. The offering is expected to close on or about August 12, 2016, subject to the satisfaction of customary closing conditions. BioMarin has also granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock. BioMarin intends to use the net proceeds from the offering for general corporate purposes, including clinical trials of its product candidates and the expansion of its manufacturing capacity, particularly with respect to its manufacturing capability for its gene therapy program.
Goldman, Sachs & Co. and BofA Merrill Lynch are acting as joint book-running managers for the offering.
The offering of the shares described above has been registered under the Securities Act of 1933, as amended. For additional information relating to the offering, BioMarin refers you to its Registration Statement on Form S-3, which BioMarin filed with the Securities and Exchange Commission (the “SEC”) on August 8, 2016 and which became immediately effective on the same date. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, by phone at (866) 471-2526 or by email at email@example.com; and BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by email at firstname.lastname@example.org.
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