Arrowhead Pharmaceuticals Adopts Stockholder Rights Agreement
The rights will be exercisable only if a person or group acquires 15% or
more of the company's outstanding common stock. Each right will entitle
stockholders to buy one one-thousandth of a share of a new series of
junior participating preferred stock at an exercise price of
In addition, at any time after a person or group acquires 15% of the company's outstanding common stock (unless such person or group acquires 50% or more), the company's board of directors may exchange one share of the company's common stock for each outstanding right (other than rights owned by such person or group, which would have become void).
Prior to the distribution by the company of the rights to the company's
stockholders, which will take place ten business days after acquisition
by a person or group of beneficial ownership of 15% of the company's
common stock, the rights are redeemable for
The dividend distribution was made on
A copy of the stockholder rights plan will be contained in a Form 8-K to
be filed with the
For more information, please visit www.arrowheadpharma.com, or follow us on Twitter @ArrowheadPharma. To be added to the Company's email list and receive news directly, please visit http://ir.arrowheadpharma.com/alerts.cfm.
Safe Harbor Statement under the Private Securities Litigation Reform Act:
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 safety and efficacy of our product candidates, the duration and impact of regulatory delays in our clinical programs, our ability to finance our operations, the future success of our scientific studies, our ability to successfully develop drug candidates, the timing for starting and completing clinical trials, rapid technological change in our markets, and the enforcement of our intellectual property rights. Our 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 assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.
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