On February 11, 2021 Protalix BioTherapeutics, Inc. (NYSE American: PLX, TASE: PLX) (the "Company"), a biopharmaceutical company focused on the development, production and commercialization of recombinant therapeutic proteins produced by its proprietary ProCellEx plant cell–based protein expression system, reported the pricing of its previously announced underwritten public offering of 7,608,695 shares of its common stock at a public offering price of $4.60 per share (Press release, Protalix, FEB 11, 2021, View Source [SID1234574960]). The Company granted the underwriters in the offering a 30-day option to purchase up to an additional 1,141,304 shares of its common stock. The offering is subject to customary closing conditions and is expected to close on February 17, 2021.
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The Company estimates that the net proceeds from the offering, after deducting the underwriting discount but not other estimated offering expenses payable by the Company, will be approximately $32.9 million.
BofA Securities is acting as the book-running manager and Oppenheimer & Co. is acting as the co-manager for the offering. The Company expects to use the net proceeds from the offering to fund clinical trials for its product candidates, to fund its research and development activities and for working capital and general corporate purposes.
The offering is being made pursuant to an effective shelf registration statement. Before you invest, you should read the base prospectus in such shelf registration statement, the preliminary prospectus supplement and other documents the Company has filed with the U.S. Securities and Exchange Commission (the "SEC") for more information about the Company and the offering. The offering may be made only by means of a prospectus supplement and an accompanying prospectus, copies of which may be obtained by visiting EDGAR on the SEC’s website at View Source or by sending a request to the offices of BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte NC 28255-0001, Attention: Prospectus Department, or by email at [email protected].
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.