11:47 AM EDT, 04/23/2024 (MT Newswires) -- Biohaven ( BHVN ) shares rose 6.3% in recent Tuesday trading after the company announced the closing of its underwritten public offering and disclosed Chief Executive Vlad Coric's purchase of company shares.

Late Monday, the company said it closed its offering of about 6.5 million common shares, including the full exercise of the underwriters' option to buy 841,463 additional shares, at $41 apiece.

Biohaven ( BHVN ) said the gross proceeds were about $264.5 million, with the net proceeds expected to be used for general corporate purposes.

The company's CEO Vlad Coric acquired 121,951 shares in the offering, bringing the number of shares he directly owns to about 1.8 million, according to a regulatory filing Monday.

Price: 40.82, Change: +2.49, Percent Change: +6.48