Nanotechnology Now





Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Arrowhead Announces $3.2 Million Private Placement

Abstract:
Arrowhead Research Corporation (NASDAQ: ARWR) today announced that it has raised approximately $3.2 million in gross proceeds from a private placement of approximately 5.0 million units.

Arrowhead Announces $3.2 Million Private Placement

Pasadena, CA | Posted on December 17th, 2009

Units were sold for $0.634 each, $0.125 higher than the $0.509 closing bid price of the Company's common stock on the NASDAQ Stock Market on December 11, 2009, the date of the sale. Each unit consisted of one share of newly issued common stock and one warrant to purchase an additional share of common stock at an exercise price of $0.509 per share.

"This capital infusion helps put us on more solid footing for 2010," said Arrowhead's President and CEO, Christopher Anzalone. "These new funds provide the resources to continue Calando's clinical study where we are gaining important headway. The preliminary trial results are encouraging and we expect our data set will ultimately bolster the value of Calando's drug candidate and proprietary RNAi delivery system. In addition, we plan to use funds from this financing to continue exploring exciting new prospects in the nanobiotech space where we see the opportunity to enhance our portfolio and create additional shareholder value."

The Company has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock issued in the private placement and the shares of common stock issued upon exercise of the warrants.

The shares of common stock and warrants sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from the registration requirements. The shares and warrants were offered and sold only to accredited investors. The offering is expected to close on or before December 21, 2009.

This news release is not an offer to sell or the solicitation of an offer to buy the shares of common stock or warrants to purchase shares of common stock or any other securities of the Company.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the future success of our scientific studies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments, the financial resources available to us, and general economic conditions. For example, there can be no assurance that Calando's clinical trials will be successful or that subsequent findings will be consistent with the initial findings. Arrowhead Research Corporation's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q discuss some of the important risk factors that may affect our business, results of operations and financial condition. We disclaim any intent to revise or update publicly any forward-looking statements for any reason.

####

About Arrowhead Research Corporation
Arrowhead Research Corporation (NASDAQ: ARWR) is a nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is seeking to build value for shareholders through the progress of majority-owned subsidiaries and minority investments commercializing nanotech products and applications.

For more information, please click here

Contacts:
Brandi Floberg
The Piacente Group, Inc.
212-481-2050

Copyright © Arrowhead Research Corporation

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Investments/IPO's/Splits

Harris & Harris Group Portfolio Company, AgBiome, Announces Partnership to Accelerate the Discovery of Next Generation Insect-Resistant Crops July 1st, 2015

Nanometrics to Participate in 7th Annual CEO Investor Summit 2015: Investor Event Held Concurrently With SEMICON West in San Francisco June 25th, 2015

Harris & Harris Group Portfolio Company D-Wave Systems Announces 1,000 Qubit Processor and is Discussed in the Economist June 23rd, 2015

Nanowire LED Innovator Aledia Completes $31 Million Series B Financing June 18th, 2015

Announcements

Leti Announces Launch of First European Nanomedicine Characterisation Laboratory: Project Combines Expertise of 9 Partners in 8 Countries to Foster Nanomedicine Innovation and Facilitate Regulatory Approval July 1st, 2015

Bruker Introduces Second-Generation Inspire Nanochemical Imaging Solution: Featuring Unique PeakForce IR and IR EasyAlign Technology July 1st, 2015

GLOBALFOUNDRIES Completes Acquisition of IBM Microelectronics Business: Transaction adds differentiating technologies, world-class technologists, and intellectual property July 1st, 2015

Samsung's New Graphene Technology Will Double Life Of Your Lithium-Ion Battery July 1st, 2015

Financial Reports

Aspen Aerogels to Webcast 2015 Annual Meeting of Stockholders June 11th, 2015

Industrial Nanotech, Inc. Provides Update June 8th, 2015

PEN Inc. Announces First Quarter Financial Results: Investor Webcast and Business Update Set for May 21, 1 pm EDT May 13th, 2015

Arrowhead to Report Fiscal 2015 Second Quarter Financial Results May 4th, 2015

Nanobiotechnology

Nanometric sensor designed to detect herbicides can help diagnose multiple sclerosis June 23rd, 2015

Newly-Developed Biosensor in Iran Detects Cocaine Addiction June 23rd, 2015

Researchers first to show that Saharan silver ants can control electromagnetic waves over an extremely broad range of the electromagnetic spectrum—findings may lead to biologically inspired coatings for passive radiative cooling of objects June 19th, 2015

Cellulose from wood can be printed in 3-D June 17th, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project