By Sheri Kasprzak
New York, May 18 - Arrowhead Research Corp. is planning to complete a $16,469,797 private placement.
The offering includes 2,849,449 units at $5.78 each to York Capital Management and some selected accredited investors.
The investors will also receive warrants for 712,362 shares, exercisable at $7.06 each.
Global Crown Capital, LLC is the placement agent.
The offering is expected to close early in the May 21 week.
The proceeds will be used to expand operations at the company's subsidiary, Unidym, which recently merged with Carbon Nanotechnologies, Inc. The rest will be used to make new investments in nanotechnology ventures.
Located in Pasadena, Calif., Arrowhead develops nanotechnology used in life sciences, electronics and energy.
| Issuer: | Arrowhead Research Corp.
|
| Issue: | Units of one share and one quarter-share warrant
|
| Amount: | $16,469,797
|
| Units: | 2,849,449
|
| Price: | $5.78
|
| Warrants: | One quarter-share warrant per unit
|
| Warrant strike price: | $7.06
|
| Placement agent: | Global Crown Capital, LLC
|
| Investors: | York Capital Management (lead), accredited investors
|
| Pricing date: | May 16
|
| Stock symbol: | Nasdaq: ARWR
|
| Stock price: | $6.42 at close May 17
|
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