Company sells common stock at $1.83, series B convertible preferreds
By Devika Patel
Knoxville, Tenn., April 29 - Arrowhead Research Corp. said it plans a $36 million private placement of stock and series B convertible preferred stock.
The company will sell about 14.3 million common shares at $1.83 per share and 9,900 preferreds at $1,000 per preferred.
Each preferred is convertible into common shares at $1.83 per share. There are no dividends.
The price per share and conversion price are identical to the April 26 closing share price.
Settlement is expected May 3.
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 B convertible preferred stock
|
| Amount: | $36 million
|
| Warrants: | No
|
| Pricing date: | April 29
|
| Settlement date: | May 3
|
| Stock symbol: | Nasdaq: ARWR
|
| Stock price: | $1.83 at close April 26
|
| Market capitalization: | $31.51 million
|
|
|
| Common stock
|
| Shares: | 14.3 million (approximate)
|
| Price: | $1.83
|
|
|
| Preferreds
|
| Amount: | $9.9 million
|
| Preferreds: | 9,900
|
| Price: | $1,000
|
| Conversion price: | $1.83
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
