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Protagonist Therapeutics, Inc. Announces Upsizing and Pricing of Underwritten Public Offering of 7,000,000 Shares of Common Stock

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.

Solebury Trout, Rich Allan (media), Tel: +1 646-378-2958, Email: rallan@soleburytrout.com; or Brian Korb (investors), Tel: +1 646-378-2923, Email: bkorb@soleburytrout.com