Prothena Announces Pricing of Public Offering of 3,500,000 Ordinary Shares
March 24 2021 - 8:00AM
Prothena Announces Pricing of Public Offering of 3,500,000 Ordinary
Shares
Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical
company with expertise in protein dysregulation and a pipeline of
investigational therapeutics for rare peripheral amyloid and
neurodegenerative diseases, today announced that it priced an
underwritten public offering of 3,500,000 of its ordinary shares at
a price to the public of $20.75 per ordinary share, before the
underwriting discount and estimated offering expenses. 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 525,000 of its ordinary shares.
Net proceeds to Prothena from the ordinary
shares to be sold by Prothena in the offering are expected to be
$67.8 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 March 26, 2021, subject to
customary closing conditions.
Citigroup, Jefferies and Cantor are acting as
lead book-running managers, Oppenheimer & Co. is acting as
book-running manager, and BTIG 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 will be available on the SEC’s website located at
http://www.sec.gov or may be obtained, when available, by
contacting Citigroup Global Markets Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by
telephone at (800) 831-9146; Jefferies LLC, Attention: Equity
Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New
York, NY 10022, or by telephone at (877) 821-7388, or by e-mail at
Prospectus_Department@Jefferies.com; or Cantor Fitzgerald &
Co., Attention: Capital Markets, 499 Park Avenue, 6th Floor New
York, NY 10022, or by emailing prospectus@cantor.com.
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 these securities in any state or other 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 other jurisdiction.
About Prothena
Prothena Corporation plc is a late-stage
clinical company with expertise in protein dysregulation and a
pipeline of novel investigational therapeutics with the potential
to change the course of devastating rare peripheral amyloid and
neurodegenerative diseases. Fueled by its deep scientific expertise
built over decades of research, Prothena is advancing a pipeline of
therapeutic candidates for a number of indications and novel
targets for which its ability to integrate scientific insights
around neurological dysfunction and the biology of misfolded
proteins can be leveraged. Prothena’s pipeline includes both
wholly-owned and partnered programs being developed for the
potential treatment of diseases including AL amyloidosis, ATTR
amyloidosis, Alzheimer’s disease, Parkinson’s disease and a number
of other neurodegenerative diseases.
Forward-Looking Statements
This press release contains forward-looking
statements. These statements relate to, among other things, the
timing and size of the proposed offering, the conditions affecting
the capital markets, general economic, industry, or political
conditions, and the satisfaction of customary closing conditions
related to the proposed offering. These statements are based on
estimates, projections and assumptions that may prove not to be
accurate, and actual results could differ materially from those
anticipated due to known and unknown risks, uncertainties and other
factors, including but not limited to the risks, uncertainties and
other factors described in the “Risk Factors” section of the
preliminary prospectus supplement related to the proposed public
offering filed with the SEC on the date hereof and Prothena’s
Annual Report on Form 10-K for the year ended December 31, 2020
filed with SEC on February 26, 2021. Prothena undertakes no
obligation to update publicly any forward-looking statements
contained in this press release as a result of new information,
future events or changes in Prothena’s expectations.
Contacts:
MediaEllen Rose, Head of
Communications650-922-2405, ellen.rose@prothena.com
InvestorsJennifer Zibuda,
Director, Investor Relations & Communications650-837-8535,
jennifer.zibuda@prothena.com
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