Shares of Biohaven Ltd. were trading lower after-hours Tuesday following news the company commenced a public offering of 20 million common shares.
At 4:41 p.m. EDT, the company’s stock had fallen 9.35% to trade at $9.50 per share. The stock finished the day’s regular session with a 1.26% gain at $10.48 per share.
Biohaven said it plans to use proceeds from the sale for general corporate purposes.
The company has a market cap of $370.87 million, 35.83 million shares outstanding and a public float of 31.01 million shares.