Protagonist Therapeutics, Inc. Announces Closing of $132.2 Million Public Offering of Common Stock and Full Exercise of Underwriters' Option to Purchase Additional Shares

Rhea-AI Summary

Protagonist Therapeutics (Nasdaq:PTGX) has successfully closed a public offering of 3,503,311 shares at $37.75 per share, raising approximately $132.2 million in gross proceeds. This includes 456,953 shares sold due to the underwriters' full exercise of their green shoe option. The offering's strategic execution involved J.P. Morgan, Jefferies, and Piper Sandler as joint book-running managers. The final prospectus has been filed with the SEC, and more details can be accessed via the agency's website.

Positive

• Raised approximately $132.2 million in gross proceeds from the offering.
• Increased investor interest with full exercise of green shoe option.

Negative

• Dilution of existing shareholders due to new shares issued.

NEWARK, Calif., June 18, 2021 /PRNewswire/ -- Protagonist Therapeutics, Inc. (Nasdaq:PTGX), a clinical stage biopharmaceutical company, today announced the closing of its previously announced underwritten public offering of 3,503,311 shares of its common stock, including 456,953 shares sold pursuant to the underwriters' exercise in full of their "green shoe" option to purchase additional shares, at a price to the public of $37.75 per share. Aggregate gross proceeds to Protagonist from the offering were approximately $132.2 million, before deducting underwriting discounts and commissions and offering expenses.

J.P. Morgan Securities LLC, Jefferies LLC and Piper Sandler acted as joint book-running managers for the offering. JMP Securities LLC and H.C. Wainwright & Co., LLC acted 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 December 10, 2020. A final prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and is available on the SEC's website, located at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus related to the offering may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at 866-803-9204, or by email at prospectus-eq_fi@jpmchase.com; Jefferies LLC (Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022; telephone: 877-821-7388; email: Prospectus_Department@Jefferies.com); or Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email at prospectus@psc.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, 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.

 

 

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SOURCE Protagonist Therapeutics, Inc.

FAQ

What is the purpose of the recent public offering by Protagonist Therapeutics (PTGX)?

The public offering aimed to raise funds for development activities and business growth.

What was the price per share in the Protagonist Therapeutics public offering?

The shares were offered at a price of $37.75 each.

How many shares did Protagonist Therapeutics sell in the public offering?

Protagonist Therapeutics sold a total of 3,503,311 shares, including additional shares from the green shoe option.

What were the gross proceeds from the Protagonist Therapeutics offering?

The offering generated approximately $132.2 million in gross proceeds.

Who managed the public offering for Protagonist Therapeutics?

The offering was managed by J.P. Morgan, Jefferies, and Piper Sandler as joint book-running managers.