By Devika Patel
Knoxville, Tenn., July 10 - Arrowhead Research Corp. said it will raise $2.13 million in a private placement of units.
The company will sell at least 7.1 million units of one common share and one warrant at $0.30 per unit. Each warrant will be exercisable at $0.50.
Settlement is expected July 16.
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: | $2.13 million (minimum)
|
| Units: | 7.1 million (minimum)
|
| Price: | $0.30
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | $0.50
|
| Pricing date: | July 10
|
| Settlement date: | July 16
|
| Stock symbol: | Nasdaq: ARWR
|
| Stock price: | $0.35 at close July 9
|
| Market capitalization: | $15.3 million
|
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