Portola Pharma Prices Public Offering Of 6.37 Mln Shares At $23.75/shr

(RTTNews) - Portola Pharmaceuticals Inc. (PTLA) announced that it has priced its underwritten public offering of 6.37 million shares of its common stock at a price to the public of $23.75 per share.

The company stated that it is offering 4.46 million shares of common stock, and certain existing stockholders of Portola are offering 1.91 million shares of common stock.

The company stated that it will not receive any proceeds from the sale of shares by the selling stockholders. In addition, the underwriters of the offering have been granted a 30-day option to purchase up to an additional 954,976 shares from Portola at the public offering price.

The offering is expected to close on October 22, 2013, subject to customary closing conditions.