On December 14, 2022 Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical biotechnology company with a robust pipeline of investigational therapeutics built on protein dysregulation expertise, reported that it priced an underwritten public offering of 3,250,000 of its ordinary shares at a price to the public of $56.50 per ordinary share, before the underwriting discount and estimated offering expenses (Press release, Prothena, DEC 14, 2022, View Source [SID1234625277]). All of the ordinary shares in the offering were sold by Prothena. In addition, Prothena has granted the underwriters a 30-day option to purchase up to an additional 487,500 of its ordinary shares.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
Net proceeds to Prothena from the ordinary shares to be sold by Prothena in the offering are expected to be $172.4 million, after deducting the underwriting discount and estimated offering expenses, but excluding any exercise of the underwriters’ option to purchase additional ordinary shares. The offering is expected to close on December 19, 2022, subject to customary closing conditions.
Jefferies, Evercore ISI and Cantor are acting as lead book-running managers, Oppenheimer & Co. is acting as book-running manager and JMP Securities, a Citizens Company, and H.C. Wainwright & Co. are acting as co-lead managers for the offering.
The public offering is being made pursuant to an automatic shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission (the "SEC") on March 23, 2021 and automatically became effective upon filing. A final prospectus supplement and accompanying prospectus relating to and describing the final terms of the offering will be filed with the SEC and available on the SEC’s website located at View Source or may be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, or by telephone at (877) 821-7388, or by e-mail at [email protected]; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, or by telephone at (888)474-0200, or by email at [email protected]; or Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 4th Floor, New York, NY 10022, or by e-mail at [email protected].