- About Us
- Career Center
- Nano-Social Network
- Nano Consulting
- My Account
Arrowhead Research Corporation (NASDAQ: ARWR) today announced that it has closed its previously announced registered direct offering of 6.6 million shares of common stock and warrants to purchase 3.3 million shares of common stock.
Total proceeds from the offering were $8.65 million. The offering strengthens Arrowhead's balance sheet and enables continued progress with its current subsidiaries while also positioning the company to take advantage of new opportunities.
"Our lead subsidiaries, Calando and Unidym, are making significant progress and the current offering is important to continuing this momentum," said Christopher Anzalone, Arrowhead's CEO. "Calando's first ever demonstration of systemic siRNA delivery and gene silencing in humans was a considerable achievement, and our augmented balance sheet will better enable us to maximize its value by approaching potential partnerships from a position of strength. Similarly, Unidym has made great progress entering touch panel markets, and we are now in a better position to negotiate commercial alliances and strategic investments into that company. In addition, we are looking to ramp up our activity in nanomedicine by adding a new subsidiary to our portfolio and increasing our positions in our existing minority investments."
The stock and warrants were sold in units, at a price of $1.312 per unit, with each unit consisting of one share of common stock and a warrant to purchase one-half of one share of common stock. Oppenheimer & Co. Inc. was the sole placement agent for the offering. The warrants have an exercise price of $1.65 and are exercisable beginning December 23, 2010.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities referred to herein, nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
The securities were issued under Arrowhead's shelf registration statement filed on Form S-3, which was declared effective by the Securities and Exchange Commission on June 11, 2010, and a prospectus supplement filed on June 18, 2010. The prospectus and prospectus supplement relating to this offering contain this and other information about the Company. The offering was made only by means of the prospectus and the related prospectus supplement, copies of which may be obtained from Oppenheimer & Co. Inc., Attn: Syndicate Prospectus Department, 300 Madison Ave., 4th Floor, New York, New York 10017, Phone (212) 667-8563, Fax (212) 667-6141, or
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 (www.arrowheadresearch.com) (NASDAQ: ARWR) is a nanotechnology company commercializing new technologies in the areas of life sciences and electronics. Arrowhead is seeking to build value for shareholders through the progress of its portfolio companies. Currently, Arrowhead is focused primarily on its two majority owned subsidiaries, Unidym, a leader in carbon nanotube technology for electronic applications, and Calando, at the forefront of clinical application of RNAi delivery technology. Arrowhead also has minority investments in two privately held nanobiotech companies.
The Piacente Group, Inc.
Copyright © Arrowhead Research CorporationIf you have a comment, please Contact us.
|Related News Press|
News and information
Aspen Aerogels to Present at the 28th Annual ROTH Conference March 14th, 2016
Arrowhead to Present at Upcoming March Conferences March 1st, 2016
Arrowhead to Webcast Fiscal 2015 Year End Results December 7th, 2015
Haydale Announce Year End Results November 3rd, 2015