Ropes & Gray Represents Underwriters in Regeneron Pricing of Secondary Offering and Share Repurchase
Ropes & Gray represented the lead underwriters in Regeneron’s approximately $7 billion secondary offering of shares owned by the selling stockholder. The offering was accompanied by a $5 billion share repurchase by Regeneron of other shares held by the selling stockholder.
Regeneron Pharmaceuticals priced the underwritten public secondary offering of 11,831,496 shares of its common stock held by the selling stockholder at a price of $515.00 per share. Regeneron also agreed to purchase 9,806,805 shares directly from the selling stockholder, at a price of $509.85 per share (representing the price paid by the underwriters in the offering), for an aggregate purchase amount of $5 billion.
In connection with the offering, the lead underwriters have purchased an additional 1,183,150 Regeneron shares from the selling stockholder. Regeneron will not receive any of the proceeds from the sale of shares in this offering.
The team was led by capital markets partners Tara Fisher and Paul Kinsella (both of Boston) and included FDA regulatory partner Kellie Combs (Washington, D.C.), health care partner Eve Brunts (Boston), tax partner Ben Rogers (San Francisco), IP transactions partner Melissa Rones and capital markets partner Patrick O’Brien (both of Boston).