Protalix Biotherapeutics Inc. (AMEX:PLX; TASE: PLX) plans to hold a secondary offering of shares, under its shelf prospectus filed with the US Securities and Exchange Commission (SEC). The company has not yet decided when to hold the offering, or its size and terms.
Protalix plans to use the net proceeds from the offering to finance clinical trials of its drug candidates, R&D operations, expand its manufacturing capacity, and for working capital and general corporate purposes.
Jefferies & Company Inc. is the sole book-running manager for the offering, and Canaccord Genuity Inc. and Oppenheimer & Co. Inc. are the co-managers. Protalix plans to grant them a 30-day overallotment option in the proposed offering.
Protalix's share price was unchanged at NIS 23.20 in morning trading on the TASE today, after falling 0.8% on the American Stock Exchange yesterday to $6.13, giving a market cap of $525 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 16, 2012
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