SAN RAFAEL, Calif., March 5, 2014 (GLOBE NEWSWIRE) -- BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) announced today the pricing on March 4, 2014 of an underwritten public offering of 1,500,000 shares of its common stock. The gross proceeds to BioMarin from this offering are expected to be approximately $119.3 million before deducting underwriting discounts and commissions and estimated offering expenses payable by BioMarin. The offering is expected to close on or about March 10, 2014, subject to the satisfaction of customary closing conditions. 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 is acting as sole underwriter, and will 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 about 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. The 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 final prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or email email@example.com or by accessing the SEC's website at http://www.sec.gov.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. 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.