SAN RAFAEL, Calif., March 4, 2014 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) announced today an offering, subject to market and other conditions, of 1,500,000 shares of its common stock in an underwritten public offering. BioMarin intends to use the net proceeds from the offering primarily for the purchase of its corporate headquarters for $116.5 million, which the company expects to close in the first quarter of 2014, and for general corporate purposes. The number of shares being offered constitutes slightly more than 1% of the number of shares of common stock outstanding as of December 31, 2013.
BofA Merrill Lynch will act as sole underwriter for the offering, and proposes to offer the shares at prevailing market prices or otherwise from time to time through the Nasdaq Global Select Market, the over-the-counter market, negotiated transactions or otherwise.
The offering of the shares described above 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 preliminary 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 preliminary prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or email email@example.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, and will not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The offering and sale of the shares will be made pursuant to the effective shelf registration statement and only by means of the prospectus supplement and the accompanying prospectus.