Company sells common stock at $1.83, series B convertible preferreds
By Devika Patel
Knoxville, Tenn., May 1 - Arrowhead Research Corp. gave further details about a $36 million private placement of stock and series B convertible preferred stock in an 8-K filed Wednesday with the Securities and Exchange Commission. The deal was announced April 29, the pricing date.
The company will sell 14,262,553 common shares at $1.83 per share and 9,900 preferreds at $1,000 per preferred.
Each preferred is convertible into common shares at $1.83 per share. There are no dividends.
The price per share and conversion price are identical to the April 26 closing share price.
Settlement is expected May 3.
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: | Common stock, series B convertible preferred stock
|
| Amount: | $36,000,472
|
| Warrants: | No
|
| Pricing date: | April 29
|
| Settlement date: | May 3
|
| Stock symbol: | Nasdaq: ARWR
|
| Stock price: | $1.83 at close April 26
|
| Market capitalization: | $36.08 million
|
|
|
| Common stock
|
| Amount: | $26,100,472
|
| Shares: | 14,262,553
|
| Price: | $1.83
|
|
|
| Preferreds
|
| Amount: | $9.9 million
|
| Preferreds: | 9,900
|
| Price: | $1,000
|
| Conversion price: | $1.83
|
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