Biohaven Announces Pricing of Public Offering of Common Shares

NEW HAVEN, Conn., Oct. 20, 2022 /PRNewswire/ -- Biohaven Ltd. (NYSE: BHVN) ("Biohaven") announced today the pricing of the public offering of 25,000,000 of its common shares, at a public offering price of $10.50 per common share. Biohaven has granted the underwriters a 30-day option to purchase up to an additional 3,750,000 common shares. The offering is expected to close on October 25, 2022, subject to the satisfaction of customary closing conditions. Biohaven intends to use the net proceeds received from the offering for general corporate purposes.

J.P. Morgan, Cowen, SVB Securities and Piper Sandler are acting as joint book-running managers of the offering. Cantor and BTIG  are acting as co-managers.

The offering will be made only by means of a prospectus. A copy of the prospectus relating to this offering, when available, may be obtained from the following sources: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at [email protected]; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, by telephone at (833) 297-2926 or by email at [email protected]; SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, or by telephone at (800) 747-3924, or by email at [email protected]; or by accessing the U.S. Securities and Exchange Commission's website at www.sec.gov.

A registration statement on Form S-1 relating to the securities has been filed with the Securities and Exchange Commission (the "SEC") and was declared effective by the SEC on October 20, 2022. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws of such state or jurisdiction.

Biohaven is a global clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of life-changing therapies for people with debilitating neurological and neuropsychiatric diseases, including rare disorders. The company is advancing a pipeline of best-in-class therapies for diseases with little or no treatment options, leveraging its proven drug development capabilities and proprietary platforms, including Kv7 ion channel modulation for epilepsy and neuronal hyperexcitability; glutamate modulation for obsessive-compulsive disorder and spinocerebellar ataxia and myostatin inhibition for neuromuscular diseases. Biohaven's portfolio of early- and late-stage product candidates also includes discovery research programs focused on TRPM3 channel activation for neuropathic pain and CD-38 antibody recruiting, bispecific molecules for multiple myeloma.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The use of certain words, including "continue", "plan", "will", "believe", "may", "expect", "anticipate" and similar expressions, is intended to identify forward-looking statements. Investors are cautioned that any forward-looking statements, including statements regarding the future development, timing and potential marketing approval and commercialization of development candidates are not guarantees of future performance or results and involve substantial risks and uncertainties. Actual results, developments and events may differ materially from those in the forward-looking statements as a result of various factors including: Biohaven's ability to complete the offering of its common shares on the proposed terms, or at all, and Biohaven's expectations related to the use of proceeds from the offering of its common shares. Additional important factors to be considered in connection with forward-looking statements are described in Biohaven's Registration Statement on Form S-1 filed with the SEC and the preliminary prospectus included therein, including within the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". The forward-looking statements are made as of the date of this new release, and Biohaven does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Jennifer Porcelli
Vice-President, Investor Relations
[email protected]

Mike Beyer
Sam Brown Inc.
[email protected]
312-961-2502

SOURCE BIOHAVEN LTD

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