Prothena Prices Offering Of 5.91 Mln Shares At $22/shr - Quick Facts

(RTTNews) - Prothena Corp. plc. (PRTA) announced that it has priced an underwritten public offering of 5.91 million of its ordinary shares at a price of $22.00 per ordinary share, before underwriting discounts and commissions.

Of these ordinary shares, Prothena is offering 3.50 million ordinary shares and Janssen Pharmaceutical, a wholly owned subsidiary of Johnson & Johnson, as selling shareholder, is offering 2.41 million ordinary shares.

In addition, the underwriters have been granted a 30-day option to purchase up to an additional 886,500 ordinary shares. If the option is exercised in full, Prothena will issue and sell an additional 677,079 ordinary shares and Janssen Pharmaceutical will sell an additional 209,421 ordinary shares, which represents all of Janssen's shareholdings in Prothena.

The company expects net proceeds to the company from the ordinary shares to be sold by the company in the offering to be $70.8 million, after deducting the underwriting discount and estimated offering expenses, but excluding any exercise of the underwriters' option to purchase additional ordinary shares.

The company noted that it will not receive any proceeds from the sale of ordinary shares by Janssen Pharmaceutical. The offering is expected to close on or about October 8, 2013, subject to customary closing conditions.