Alkermes Announces a Secondary Offering of 13,900,000 Ordinary Shares Held by Elan
Alkermes plc (NASDAQ: ALKS) today announced that it has commenced an underwritten public offering, subject to market and other conditions, of 13,900,000 ordinary shares held by a subsidiary of Elan Corporation, plc (“Elan”), pursuant to an effective shelf registration statement. As part of the offering, Elan intends to grant the underwriters a 30-day option to purchase up to an additional 2,085,000 ordinary shares. Alkermes will not receive any proceeds from any such offering and its total number of ordinary shares outstanding will not change as a result of the offering. Citigroup, Jefferies & Company, Inc. and Morgan Stanley are acting as joint book-running managers. Berenberg Bank and Cowen & Company LLC are co-managers for the offering.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.