Protagonist to offer 2.75M shares, warrants via Securities Purchase Agreement
Protagonist Therapeutics announced in a regulatory filing that on August 6 it entered into a Securities Purchase Agreement with certain purchasers pursuant to which the company will offer to the purchasers, up to an aggregate of an aggregate of 2.75M shares of common stock at a negotiated purchase price of $8.00 per share, for aggregate gross proceeds to the company of approximately $22M, before deducting estimated offering expenses payable by the company. In a concurrent private placement, the company is selling warrants to purchase an aggregate of 2.75M shares of common stock. Each Warrant will be exercisable from the date of issuance of the common stock until the five-year anniversary of the closing date. Warrants to purchase 1.375M shares will have an exercise price of $10.00 per share and Warrants to purchase 1.375M shares will have an exercise price of $15.00 per share.