PASADENA, Calif.--(BUSINESS WIRE)--
Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) today announced the
pricing of an underwritten public offering of 10,000,000 shares of its
common stock, offered at a price of $5.25 per share, before underwriting
discounts. The offering is expected to close on or about January 22,
2018, 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 1,500,000 shares of common stock at the public
offering price, less the underwriting discount. Jefferies LLC and
Barclays Capital Inc. are acting as bookrunning managers for the
offering, Cantor Fitzgerald & Co. is acting as passive joint bookrunner
for the offering and Chardan and B. Riley FBR, Inc. are acting as
co-managers for the offering.
Gross offering proceeds will be approximately $52.5 million, before
deducting underwriting discounts and commissions and offering expenses.
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
A shelf registration statement on Form S-3 (File No. 333-214315)
relating to the public offering of the shares of common stock described
above was filed with the Securities and Exchange Commission (the "SEC")
and is effective. A final prospectus supplement relating to the offering
will be filed with the SEC and will be available on the SEC's web site
When available, copies of the final prospectus supplement may also be
obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus
Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by
telephone at (877) 547-6340, or by e-mail at Prospectus_Department@Jefferies.com
or from Barclays Capital Inc., Attention: Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone:
1-888-603-5847, or email: Barclaysprospectus@broadridge.com.
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.
About Arrowhead Pharmaceuticals
Arrowhead Pharmaceuticals develops medicines that treat intractable
diseases by silencing the genes that cause them. Using a broad portfolio
of RNA chemistries and efficient modes of delivery, Arrowhead therapies
trigger the RNA interference mechanism to induce rapid, deep, and
durable knockdown of target genes. RNA interference, or RNAi, is a
mechanism present in living cells that inhibits the expression of a
specific gene, thereby affecting the production of a specific protein.
Arrowhead's RNAi-based therapeutics leverage this natural pathway of
Safe Harbor Statement under the Private Securities Litigation Reform
This news release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements include
statements regarding our expectations with respect to our proposed
public offering. 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, without limitation, risks and uncertainties
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering. Our Annual
Report on Form 10-K, recent and forthcoming Quarterly Reports on Form
10-Q, recent Current Reports on Forms 8-K, and other SEC filings discuss
some of the important risk factors that may affect our ability to
achieve the anticipated results, as well as our business, results of
operations and financial condition. Readers are cautioned not to place
undue reliance on these forward-looking statements. Additionally,
Arrowhead disclaims any intent to update these forward-looking
statements to reflect subsequent developments.
Source: Arrowhead Pharmaceuticals, Inc.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180118005748/en/
Arrowhead Pharmaceuticals, Inc.
Vince Anzalone, CFA
LifeSci Advisors, LLC
Source: Arrowhead Pharmaceuticals, Inc.
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