By Sheri Kasprzak
New York, Aug. 18 - Arrowhead Research Corp. completed a $1 million private placement of stock.
The company issued 204,918 shares to Knott Partners, LP and Potomac Capital Partners, LP at $4.88 each.
The price per share represents the 10-day trailing average price from Aug. 4.
With some of the proceeds, Arrowhead bought 240,000 shares of Calando Pharmaceuticals from a minority holder for total consideration of $480,000.
The rest of the proceeds will be used for general corporate purposes.
Based in Pasadena, Calif., Arrowhead is a nanotechnology company focused on developing products for the life sciences, electronics and energy sectors.
| Issuer: | Arrowhead Research Corp.
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| Issue: | Stock
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| Amount: | $1 million
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| Shares: | 204,918
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| Price: | $4.88
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| Warrants: | No
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| Investors: | Knott Partners, LP and Potomac Capital Partners, LP
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| Settlement date: | Aug. 18
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| Stock symbol: | Nasdaq: ARWR
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| Stock price: | $4.77 at close Aug. 17
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