Company sells units with half-share warrants through Dawson James
By Devika Patel
Knoxville, Tenn., Dec. 10 - Arrowhead Research Corp. priced a $4.29 million public offering of units on June 26, according to a prospectus supplement and 8-K filed Monday with the Securities and Exchange Commission. The offering was announced Thursday.
The company will sell 1.9 million units of one common share and one half-share warrant at $2.26 per unit, with each whole warrant exercisable at $2.20 for five years. The strike price is a 3.29% premium to the Dec. 7 closing share price of $2.13.
Dawson James Securities, Inc. is the bookrunning manager.
Settlement is expected Dec. 12.
Proceeds will be used for general corporate purposes, including working capital, capital expenditures, research and development expenditures and clinical trial expenditures.
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: | Units of one common share and one half-share warrant
|
| Amount: | $4,294,000
|
| Units: | 1.9 million
|
| Price: | $2.26
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.20
|
| Bookrunner: | Dawson James Securities, Inc.
|
| Announcement date: | Dec. 6
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 12
|
| Stock symbol: | Nasdaq: ARWR
|
| Stock price: | $2.13 at close Dec. 7
|
| Market capitalization: | $23.75 million
|
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