Arrowhead Research (ARWR) Prices $45M Private Stock Offering at $5.90/Share

August 9, 2016 9:06 AM EDT

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Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) announced that it has priced a private offering of its common stock with gross proceeds expected to be $45 million. The offering was priced at $5.90 per share.

Cantor Fitzgerald & Co. acted as sole placement agent for the offering.

Approximately 7.63 million shares of common stock are expected to be issued at the closing of the offering. The offering is expected to close on or about August 12, 2016, subject to the satisfaction of customary closing conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state or other jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. The Company has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock to be issued and sold in the private placement.

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