Company sells units of a common share, a half-share warrant in deal
By Devika Patel
Knoxville, Tenn., Jan. 25 - Arrowhead Research Corp. said it priced a public offering of units to raise about $3.5 million. The offering was announced Friday and priced a few hours later.
The company will sell about 1.65 million units of one common share and one half-share warrant at $2.12 per unit.
Dawson James Securities, Inc. is the bookrunner.
Settlement is expected Jan. 30.
Proceeds will be used for general corporate purposes, including working capital, capital expenditures, research and development expenditures and clinical trial expenditures.
Based in Pasadena, Calif., Arrowhead is a nanomedicine company developing therapeutics for the treatment of cancer and obesity, as well as the regeneration of wounded or diseased tissue.
| Issuer: | Arrowhead Research Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $3.5 million (approximate)
|
| Units: | 1.65 million (approximate)
|
| Price: | $2.12
|
| Warrants: | One half-share warrant per unit
|
| Bookrunners: | Dawson James Securities, Inc.
|
| Announcement date: | Jan. 25
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 30
|
| Stock symbol: | Nasdaq: ARWR
|
| Stock price: | $2.14 at close Jan. 24
|
| Market capitalization: | $30.82 million
|
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