BioCentury
ARTICLE | Financial News

Biohaven raises $168.3M in bumped-up IPO

May 4, 2017 9:30 PM UTC

Biohaven Pharmaceutical Holding Co. Ltd. (NYSE:BHVN) gained $0.50 to $17.50 in its first day of trading Thursday after it raised $168.3 million through the sale of 9.9 million shares at $17 in an IPO underwritten by Morgan Stanley, Piper Jaffray, Barclays, William Blair and Needham. The IPO price values the company at $581.9 million.

Last month, Biohaven said it hoped to sell 8.3 million shares at $14-$16. At the $15 midpoint, the company would have raised $125 million and been valued at $490 million...