By Devika Patel
Knoxville, Tenn., Aug. 7 - Arrowhead Research Corp. completed a $900,000 second tranche of a private placement of units. The deal priced for up to $2.13 million on July 10, and the company took in $1.86 million on July 17.
The company sold a total of 9.2 million units of one common share and one warrant at $0.30 per unit.
Each warrant will be exercisable at $0.50 until June 30, 2014.
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: | $2.76 million
|
| Units: | 9.2 million
|
| Price: | $0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | June 30, 2014
|
| Warrant strike price: | $0.50
|
| Pricing date: | July 10
|
| Settlement date: | July 17 (for $1.86 million), Aug. 7 (for $900,000)
|
| Stock symbol: | Nasdaq: ARWR
|
| Stock price: | $0.35 at close July 9
|
| Market capitalization: | $18.5 million
|
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