Arno Therapeutics completes $7.4 million private placement of stock

Company sells 21,153,997 of its common shares at $0.35 apiece in deal

By Devika Patel

Knoxville, Tenn., Jan. 13 – Arno Therapeutics, Inc. settled a $7.4 million private placement of stock on Jan. 12, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The company sold 21,153,997 common shares at $0.35 per share. The price per share is a 16.67% premium to the Jan. 11 closing share price of $0.30.

Investors included affiliates of chairman Arie Belldegrun, OPKO Health, Inc., Soros Fund Management, LLC, Commercial Street Capital LLC, Pontifax, Bonderman Family LP, Perceptive Advisors LLC and Auriga Capital Management.

Proceeds will be used for clinical development of onapristone and general corporate purposes.

Based in Parsippany, N.J., Arno is a clinical-stage biopharmaceutical company focused on developing oncology therapeutics.

Issuer:	Arno Therapeutics, Inc.
Issue:	Common shares
Amount:	$7,403,899
Shares:	21,153,997
Price:	$0.35
Warrants:	No
Investors:	Arie Belldegrun, OPKO Health, Inc., Soros Fund Management, LLC, Commercial Street Capital LLC, Pontifax, Bonderman Family LP, Perceptive Advisors LLC and Auriga Capital Management
Settlement date:	Jan. 12
Stock symbol:	OTCBB: ARNI
Stock price:	$0.30 at close Jan. 11
Market capitalization:	$6.53 million

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