Prothena Prices Public Offering Of 3.25 Mln Shares At $56.50/Shr

(RTTNews) - Prothena Corp. plc (PRTA), a late-stage clinical biotechnology company, announced late Wednesday that it priced an underwritten public offering of 3.25 million of its ordinary shares at a price to the public of $56.50 per ordinary share.

All of the ordinary shares in the offering were sold by Prothena. In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 487,500 of its ordinary shares.

The offering is expected to close on December 19, 2022, subject to customary closing conditions.

Prothena expects net proceeds from the ordinary shares to be sold by Prothena in the offering would be $172.4 million. The value comes after deducting the underwriting discount and estimated offering expenses, but excluding any exercise of the underwriters' option to purchase additional ordinary shares.

In the offering, 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.