Arrowhead Pharmaceuticals Inc. (ARWR) Prices 4M Share Offering at $58/Sh

Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) today announced the pricing of an underwritten public offering of 4,000,000 shares of its common stock, offered at a price of $58.00 per share, before underwriting discounts. The offering is expected to close on or about December 6, 2019, subject to customary closing conditions. In addition, Arrowhead has granted the underwriters of the offering a 30-day option to purchase up to an additional 600,000 shares of common stock at the public offering price, less the underwriting discount. Gross offering proceeds will be approximately $232 million, before deducting underwriting discounts and commissions and offering expenses.

Goldman Sachs & Co. LLC, Jefferies LLC and Piper Jaffray & Co. are acting as bookrunning managers for the offering, Cantor Fitzgerald & Co. is acting as passive joint bookrunner for the offering and Robert W. Baird & Co. Incorporated and B. Riley FBR, Inc. are acting as co-managers for the offering. Arrowhead intends to use the net proceeds from this offering for general corporate purposes, including working capital, capital expenditures, research and development expenditures and clinical trial expenditures. A portion of the net proceeds may also be used for the acquisition of complementary businesses, products and technologies, or for other strategic purposes.

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