By Sheri Kasprzak
New York, Jan. 13 - Arrowhead Research Corp. said it has entered into agreements with two institutional investors for a $19,565,000 private placement.
York Capital Management and Knott Partners, LP agreed to buy 5.59 million shares at $3.50 each.
York will buy 4,161,429 of the shares and Knott will buy 1,428,571 shares.
The two investors will receive warrants for 1,397,500 shares, exercisable at $5.04 each.
Proceeds will be used for growth.
Based in Pasadena, Calif., Arrowhead is a research company focused on nanotechnology for use in electronics, life sciences and energy.
| Issuer: | Arrowhead Research Corp.
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| Issue: | Stock
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| Amount: | $19,565,000
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| Shares: | 5.59 million
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| Price: | $3.50
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| Warrants: | For 1,397,500 shares
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| Warrant strike price: | $5.04
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| Investors: | York Capital Management and Knott Partners, LP
|
| Announcement date: | Jan. 13
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| Stock symbol: | Nasdaq Capital: ARWR
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| Stock price: | $4.67 at close Jan. 12
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