BioCentury
ARTICLE | Financial News

Prothena planning follow-on

September 19, 2013 1:29 AM UTC

Prothena Corp. plc (NASDAQ:PRTA) proposed to sell 3.5 million shares in a follow-on underwritten by BofA Merrill Lynch; Credit Suisse; RBC Capital Markets; Wedbush PacGrow; and Roth Capital Partners. If sold at Prothena's close of $20.22 on Tuesday, before the offering was announced, the company would raise $70.8 million. The Janssen Pharmaceuticals Inc. subsidiary of Johnson & Johnson (NYSE:JNJ) also plans to sell 1.5 million shares in the offering. Janssen's stake would decrease to 5.3% from 14.8% if the shares are sold. Prothena was off $0.44 to $19.78 on Wednesday. ...