Horizon Pharma plc Announces Closing of Public Offering of Ordinary Shares and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Horizon Pharma plc Announces Closing of Public Offering of Ordinary Shares and Full Exercise of Underwriters’ Option to Purchase Additional Shares

03/11/19

-- Total offering size of $345 million

-- Incremental $200 million borrowing capacity secured under new revolving credit facility --

DUBLIN--(BUSINESS WIRE)--Mar. 11, 2019-- Horizon Pharma plc (Nasdaq: HZNP) today announced the closing of its underwritten public offering of 14,081,632 of its ordinary shares at a price to the public of $24.50 per share. This includes the exercise in full by the underwriters of their option to purchase up to 1,836,734 additional ordinary shares. The estimated net proceeds to the Company from this offering are approximately $326.8 million, after deducting underwriting discounts and other estimated offering expenses payable by the Company.

Citigroup, Morgan Stanley, Goldman Sachs & Co. LLC and Cowen acted as joint book-running managers for the offering.

Also on March 11, 2019, the Company secured incremental revolving loan commitments pursuant to an amendment to its existing credit agreement. The new incremental revolving commitments have been established pursuant to a revolving credit facility, and provide an additional $200 million of borrowing capacity.

A registration statement relating to the ordinary shares described above was previously filed with and became effective by rule of the Securities and Exchange Commission (“SEC”). A final prospectus supplement and accompanying prospectus related to the offering was filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may be obtained by contacting Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by phone at 800-831-9146; Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department; Goldman Sachs & Co. LLC, c/o: Prospectus Department200 West Street, New York, NY 10282, by email at prospectus-ny@ny.email.gs.com or by phone at 866-471-2526; or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department or by phone at 631-274-2806.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the shares in any state or other jurisdiction which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Horizon Pharma plc

Horizon Pharma plc is focused on researching, developing and commercializing innovative medicines that address unmet treatment needs for rare and rheumatic diseases. By fostering a growing pipeline of medicines in development and exploring all potential uses for currently marketed medicines, we strive to make a powerful difference for patients, their caregivers and physicians. For us, it’s personal: by living up to our own potential, we are helping others live up to theirs.

Source: Horizon Pharma plc

Tina Ventura
Senior Vice President, Investor Relations
Investor-relations@horizonpharma.com

Ruth Venning
Executive Director, Investor Relations
Investor-relations@horizonpharma.com

U.S. Media Contact:
Geoff Curtis
Executive Vice President, Corporate Affairs & Chief Communications Officer
media@horizonpharma.com

Ireland Media Contact:
Gordon MRM
Ray Gordon
ray@gordonmrm.ie