Biohaven Pharmaceuticals, which is developing treatments for neurological diseases and rare disorders, announced terms for its IPO on Monday.
The New Haven, CT-based company plans to raise $125 million by offering 8.3 million shares at a price range of $14 to $16. Insiders intend to purchase $70 million worth of shares in the offering (56%). At the midpoint of the proposed range, Biohaven Pharmaceuticals would command a fully diluted market value of $546 million.
Biohaven Pharmaceuticals was founded in 2013 and plans to list on the NYSE under the symbol BHVN. Morgan Stanley, Piper Jaffray and Barclays are the joint bookrunners on the deal. It is expected to price during the week of May 1, 2017.
