Alkermes Files Resale Shelf Registration in Connection with Elan Shareholder Agreement
Alkermes plc (NASDAQ: ALKS) today filed a resale shelf Registration Statement on Form S-1 with the Securities and Exchange Commission relating to the potential future sales by a subsidiary of Elan Corporation, plc of up to 31,900,000 ordinary shares of Alkermes plc , pursuant to the shareholder's agreement between Alkermes and Elan entered into in connection with the business combination of Elan's drug technology unit and Alkermes, Inc., which was completed in September 2011.
Any sale of these shares is governed by the terms of the shareholder's agreement. Under the shareholder's agreement, Elan will have the right to sell up to approximately 13 million shares of the registered amount in a marketed, underwritten public offering after the expiry of the initial lock-up period, unless Alkermes consents to the sale of a greater number of shares. The remaining shares will be saleable on a delayed basis. Any offering of these securities will be made only by means of a prospectus and a related prospectus supplement.
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