U.S. Markets open in 3 hrs 40 mins

Protagonist Therapeutics Secures $115M Via Equity Raise

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Protagonist Therapeutics Inc (NASDAQ: PTGX) priced its previously announced underwritten public offering of around 3 million common shares to raise gross proceeds of approximately $115 million.

  • The offering was upsized from 0 million announced earlier.

  • The offer price of $37.75/share represents a marginal discount of 1% from the last close price of $38.18 on Tuesday.

  • Underwriters have an option to purchase up to 456k additional shares.

  • J.P. Morgan Securities LLC, Jefferies LLC, and Piper Sandler are acting as joint book-running managers for the offering. JMP Securities LLC and H.C. Wainwright & Co., LLC are acting as co-lead managers for the offering.

  • The offering will close by June 18.

  • Protagonist intends to use the proceeds to fund the R&D of clinical programs, including PTG-300, PN-943, PTG-200, PN-235, and PN-232, as well as working capital and general corporate purposes.

  • See the Offer Prospectus here.

  • Price Action: PTGX shares closed at $38.15 on Tuesday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.