BioMarin Expects Proceeds Of $119 Mln. From 1.5 Mln. Share Offer

(RTTNews) - BioMarin Pharmaceutical Inc. (BMRN) said Wednesday it has priced its underwritten public offering of 1.5 million shares of its common stock and expects gross proceeds from the offering of about $119.3 million before deducting certain related expenses.

The offering is expected to close on or about March 10.

BioMarin plans to use the proceeds from the offering mainly for the purchase of its corporate headquarters for $116.5 million and for general corporate purposes.

BioMarin stock is trading at $79.34, down $1.48 or 1.83%, on a volume of 921k shares on the Nasdaq.