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Regeneron Announces Pricing Of Secondary Offering Of Its Stock Held By Sanofi At $515.00/shr

Regeneron Pharmaceuticals Inc. (REGN) announced the pricing of the underwritten public secondary offering of about 11.83 million shares of its common stock held by Sanofi at a price of $515.00 per share.

Regeneron also agreed to purchase 9.81 million shares directly from Sanofi, at a price of $509.85 per share, which represents he price paid by the underwriters in the offering, for an aggregate purchase amount of $5 billion.

The underwriters have a 30-day option to purchase up to an additional 1.18 million Regeneron shares from Sanofi. Sanofi will have disposed of all of its shares, other than 400,000 shares it intends to retain.

Regeneron said it will not receive any of the proceeds from the sale of shares in the offering.

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