Market Overview

BioMarin Announces Pricing of Public Offering of Common Stock; 6.5M Shares for $248.885M

BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced the pricing of an underwritten public offering of 6,500,000 shares of its common stock. The gross proceeds to BioMarin from this offering are expected to be approximately $248,885,000, before deducting underwriting discounts and commissions and other estimated offering expenses payable by BioMarin. The offering is expected to close on or about June 5, 2012, subject to customary closing conditions. BioMarin has also granted to the underwriters a 30-day option to purchase from it up to an additional 650,000 shares of its common stock. BioMarin intends to use the net proceeds from this offering primarily for general corporate purposes, including working capital and research and development.

Posted-In: News Offerings

 

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