NEWARK, Calif., May 12, 2020 /PRNewswire/ -- Protagonist
Therapeutics, Inc. (Nasdaq: PTGX), a clinical stage
biopharmaceutical company, today announced the pricing of its
previously announced underwritten public offering of 7,000,000
shares of its common stock at a price to the public of $14.00 per share. The offering was upsized
from the previously announced 5,000,000 shares. Gross proceeds to
Protagonist from the offering are expected to be $98.0 million, before deducting underwriting
discounts and commissions and estimated offering expenses.
All of the shares of common stock are being offered by Protagonist.
In addition, Protagonist has granted the underwriters a 30-day
option to purchase up to 1,050,000 additional shares of common
stock at the public offering price, less underwriting discounts and
commissions. The offering is expected to close on or about
May 14, 2020, subject to satisfaction
of customary closing conditions.
Jefferies LLC and BMO Capital Markets Corp. are acting as joint
book-running managers for the offering. H.C. Wainwright &
Co., LLC and Nomura Securities International, Inc. are acting as
co-lead managers for the offering.
A shelf registration statement relating to the offered shares of
common stock was filed with the Securities and Exchange Commission
(SEC) on October 31, 2019, and was
declared effective on November 22,
2019. A preliminary prospectus supplement and accompanying
prospectus relating to the offering have been filed with the SEC
and a final prospectus supplement and accompanying prospectus
related to the offering will be filed with the SEC and will be
available on the SEC's website, located at www.sec.gov. The
offering is being made only by means of a prospectus supplement and
accompanying prospectus. Copies of the final prospectus
supplement and the accompanying prospectus related to the offering
may be obtained, when available, from Jefferies LLC, Attention:
Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, by
telephone at 877-547-6340 or by email at
Prospectus_Department@Jefferies.com or from BMO Capital Markets
Corp., Attention: Equity Syndicate Department, 3 Times Square, 25th
Floor, New York, NY 10036, by
telephone at 800-414-3267 or by email at bmoprospectus@bmo.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements for
purposes of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
statements regarding Protagonist's expectations regarding the
completion and timing of the public offering. In some cases, you
can identify these statements by forward-looking words such as
"expect," "will," "may," or the negative or plural of these words
or similar expressions (as well as other words or expressions
referencing future events, conditions or circumstances). These
forward-looking statements are based on Protagonist's expectations
and assumptions as of the date of this press release. Each of these
forward-looking statements involves risks and uncertainties. Actual
results may differ materially from these forward-looking
statements. These risks and uncertainties include, without
limitation, risks and uncertainties related to market conditions
and satisfaction of customary closing conditions related to the
public offering. There can be no assurance that Protagonist will be
able to complete the public offering on the anticipated terms, or
at all. Additional information concerning these and other risks can
be found in Protagonist's periodic filings with the U.S. Securities
and Exchange Commission, including under the heading "Risk Factors"
contained therein, as well as the risks identified in the
registration statement and the preliminary prospectus supplement
relating to the offering. Any forward-looking statements that
Protagonist makes in this press release speak only as of the date
of this press release. Except as required by law, Protagonist
assumes no obligation to update any forward-looking statements,
whether as a result of new information, future events or otherwise,
after the date of this press release.
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SOURCE Protagonist Therapeutics, Inc.