By Devika Patel
Knoxville, Tenn., Dec. 17 - Arrowhead Research Corp. arranged to raise about $3.2 million in a private placement of units on Dec. 11, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company will sell approximately 5.2 million units of one common share and one warrant at $0.634 per unit. Each warrant will be exercisable at $0.509 until Dec. 11, 2014.
Settlement is expected Dec. 21.
Located in Pasadena, Calif., Arrowhead develops nanotechnology used in life sciences, electronics and energy.
| Issuer: | Arrowhead Research Corp.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | $3.2 million (approximate)
|
| Units: | 5.2 million (approximate)
|
| Price: | $0.634
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Dec. 11, 2014
|
| Warrant strike price: | $0.509
|
| Pricing date: | Dec. 11
|
| Settlement date: | Dec. 21
|
| Stock symbol: | Nasdaq: ARWR
|
| Stock price: | $0.51 at close Dec. 11
|
| Market capitalization: | $29.3 million
|
© 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.
