Market Overview

Alkermes plc Prices Secondary Offering of 21,000,000 Ordinary Shares Held by Elan

Alkermes plc (NASDAQ: ALKS) today announced the pricing of an underwritten public offering of 21,000,000 ordinary shares held by a subsidiary of Elan Corporation, plc (“Elan”) at a price to the public of $16.50 per share. Alkermes will not receive any proceeds from the offering and its total number of ordinary shares outstanding will not change as a result of the offering. In addition, Elan has granted the underwriters a 30-day option to purchase up to an additional 3,150,000 ordinary shares. The offering is expected to close on or about March 13, 2012, subject to customary closing conditions. Citigroup, Jefferies & Company, Inc. and Morgan Stanley are acting as joint book-running managers.

Posted-In: News Offerings

 

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