Prothena Prices Public Offering Of 4.75 Mln Ordinary Shares At $22.50/shr

(RTTNews) - Prothena Corporation plc (PRTA), a clinical stage biotechnology company, said it has priced an underwritten public offering of 4.75 million of its ordinary shares at $22.50 per ordinary share, before underwriting discounts and commissions. All the ordinary shares in the offering are to be sold by Prothena. Further, the underwriters were granted a 30-day option to buy up to an additional 712,500 ordinary shares.

The net proceeds to Prothena from the ordinary shares to be sold by Prothena in the offering are likely to be $102.5 million, after deducting the underwriting discount and estimated offering expenses, but excluding any exercise of the underwriters' option to buy additional ordinary shares. The offering may close on June 30, 2014.

Entities managed by Woodford Investment Management LLP have agreed to purchase about 2.22 million of Prothena's ordinary shares in this offering at the public offering price.