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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sun., Feb. 1, 11:35 AM

Slide #19. BioMarin Pharmaceutical Inc. Secondary Offering

Company: BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)
Date announced: 1/21/2015
Shares Offered: 8,500,000
Date of Pricing: 1/22/2015
Price Per Share: $93.25
Secondary Offering Details: BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) announced today an offering, subject to market and other conditions, of 7,250,000 shares of its common stock in an underwritten public offering. BioMarin has also granted the underwriters a 30-day option to purchase an additional 1,087,500 shares of common stock. BioMarin intends to use the net proceeds from the offering for general corporate purposes and to fund the acquisition of Prosensa Holding N.V. - updated 1/22 - BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) announced today the pricing of an underwritten public offering of 8,500,000 shares of its common stock at price of $93.25 per share. The gross proceeds to BioMarin from this offering are expected to be approximately $792.6 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by BioMarin. The offering is expected to close on or about January 27, 2015, subject to the satisfaction of customary closing conditions. BioMarin has also granted the underwriters a 30-day option to purchase up to an additional 1,275,000 shares of its common stock. BioMarin intends to use the net proceeds from the offering for general corporate purposes and to fund the acquisition of Prosensa Holding N.V.

BioMarin Pharmaceutical develops and commercializes pharmaceuticals. Co.'s product portfolio is comprised of five approved products and multiple investigational product candidates. Approved products include: Naglazyme (galsulfase) indicated for patients with mucopolysaccharidosis VI; Kuvan (sapropterin dihydrochloride) for the treatment of phenylketonuria; Aldurazyme (laronidase) for patients with mucopolysaccharidosis I; Firdapse (amifampridine phosphate) for the treatment of Lambert Eaton Myasthenic Syndrome; and VIMIZIM (elosulfase alpha), for the treatment mucopolysaccharidosis Type IV or Morquio Syndrome Type A, a lysosomal storage disorder.
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Company Name:  BioMarin Pharmaceutical Inc.
Website:  www.bmrn.com
Sector:  Drugs & Pharmaceuticals
Number of ETFs Holding BMRN:  41
Total Market Value Held by ETFs:  $700.82M
Total Market Capitalization:  $14.69B
% of Market Cap. Held by ETFs:  4.77%
 

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February 1, 2015    11:35 AM Eastern
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Strong Buy (3.53 out of 4)
74th percentile
(ranked higher than approx. 74% of all stocks covered)
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