Company sells common stock at $5.86, series C convertible preferreds
By Devika Patel
Knoxville, Tenn., Oct. 10 - Arrowhead Research Corp. plans a $64 million private placement of stock and series C convertible preferred stock, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal priced on Oct. 8 and is being conducted by agents Jefferies LLC and Piper Jaffray & Co.
The company will sell 3,071,672 common shares at $5.86 per share and 46,000 preferreds at $1,000 per preferred.
Each preferred is convertible into common shares at $5.86 per share. There are no dividends.
The price per share and conversion price are identical to the Oct. 7 closing share price.
Settlement is expected Oct. 11.
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: | Common stock, series C convertible preferred stock
|
| Amount: | $64 million
|
| Warrants: | No
|
| Agents: | Jefferies LLC and Piper Jaffray & Co.
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 11
|
| Stock symbol: | Nasdaq: ARWR
|
| Stock price: | $5.86 at close Oct. 7
|
| Market capitalization: | $246 million
|
|
|
| Common stock
|
| Amount: | $18 million
|
| Shares: | 3,071,672
|
| Price: | $5.86
|
|
|
| Preferreds
|
| Amount: | $46 million
|
| Preferreds: | 46,000
|
| Price: | $1,000
|
| Conversion price: | $5.86
|
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