Alkermes plc Completes Secondary Offering of 24,150,000 Ordinary Shares Held by Elan Corporation PLC
Published: Mar 13, 2012
DUBLIN--(BUSINESS WIRE)--Alkermes plc (NASDAQ: ALKS) (“Alkermes”) today announced the completion of an underwritten public offering of 24,150,000 ordinary shares held by a subsidiary of Elan Corporation, plc (“Elan”) at a price to the public of $16.50 per share, which includes 3,150,000 ordinary shares in connection with the full exercise by the underwriters of their option to purchase additional shares. Alkermes did not receive any proceeds from the offering, and its total number of ordinary shares outstanding did not change as a result of the offering. Citigroup, Jefferies & Company, Inc. and Morgan Stanley acted as joint book-running managers. Berenberg Bank and Cowen and Company, LLC acted as co-managers for the offering. The Elan subsidiary continues to own 7,750,000 ordinary shares, which are subject to transfer restrictions set forth in a shareholder’s agreement by and between Alkermes, Elan and the Elan subsidiary.