SAN RAFAEL, Calif., Jan. 23, 2015 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) announced today that the underwriters for its recently announced public offering of 8,500,000 shares of its common stock (the "Firm Shares") exercised in full their option to purchase an additional 1,275,000 shares (the "Additional Shares" and, together with the Firm Shares, the "Shares"). All of the Shares were offered by BioMarin at a price to the public of $93.25 per share. The gross proceeds to BioMarin from this offering, including from the Additional Shares, are expected to be approximately $911.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by BioMarin. BioMarin intends to use the net proceeds for general corporate purposes and to fund the acquisition of Prosensa Holding N.V. The offering is expected to close on January 27, 2015, subject to the satisfaction of customary closing conditions.
BofA Merrill Lynch, J.P. Morgan and Morgan Stanley acted as joint book-running managers for the offering. Barclays and Deutsche Bank Securities Inc. acted as co-managers for the offering.
The offering of the Shares has been registered under the Securities Act of 1933, as amended. For additional information relating to the offering, BioMarin refers you to its Registration Statement on Form S-3, which BioMarin filed with the Securities and Exchange Commission (the "SEC") on October 7, 2013 and which became immediately effective on the same date. A prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or email dg.prospectus_requests@baml.com; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Phone: (866) 803-9204; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email at prospectus@morganstanley.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Shares or any other securities, nor shall there be any sale of the Shares or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, the business prospects of BioMarin Pharmaceutical Inc., including, without limitation, statements related to the completion and timing of the public offering of shares and statements regarding BioMarin's intentions regarding the use of proceeds from the offering. These forward-looking statements are based on the current expectations of the management of BioMarin as of the date of this press release and are subject to risks, uncertainties, changes in circumstances, assumptions and other factors that may cause actual results of BioMarin to be materially different from those reflected in the forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among others, market risks. These and other risks are discussed in BioMarin's filings with the SEC, including, without limitation, BioMarin's 2013 Annual Report on Form 10-K and BioMarin's periodic reports on Form 10-Q and Form 8-K, as well as the risks identified in the registration statement and the final prospectus supplement relating to the offering. Given these uncertainties, you should not place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.
BioMarin®, Naglazyme®, Kuvan®, Firdapse® and VIMIZIM® are registered trademarks of BioMarin Pharmaceutical Inc. Aldurazyme® is a registered trademark of BioMarin/Genzyme LLC.