Arrowhead Pharmaceuticals Inc. (ARWR) Prices 15.79M Share Offering at $28.50/sh

Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) today announced the pricing of an underwritten registered offering of 15,790,000 shares of its common stock, par value $0.001 per share (“Common Stock”), offered at a price of $28.50 per share, before underwriting discounts. The offering is expected to close on or about January 5, 2024, subject to customary closing conditions. Gross offering proceeds will be approximately $450.0 million, before deducting underwriting discounts and commissions and estimated offering expenses.

Jefferies, BofA Securities and TD Cowen are acting as bookrunning managers for the offering. Arrowhead intends to use the net proceeds from this offering for research and development, general corporate expenses and working capital needs.

A shelf registration statement on Form S-3 (File No. 333-268665) relating to the offering of the shares of common stock described above was filed with the Securities and Exchange Commission (the "SEC") and became automatically effective upon filing on December 5, 2022. A final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's web site at www.sec.gov. When available, copies of the final prospectus supplement may also be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at [email protected]; from BofA Securities, Inc. NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department or by email at [email protected]; or from Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, by telephone at (833) 297-2926 or by email at [email protected].

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 sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

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