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Arrowhead Prices At-Market Private Offering for $60 Million Net Proceeds



  Arrowhead Prices At-Market Private Offering for $60 Million Net Proceeds

Business Wire

PASADENA, Calif. -- October 8, 2013

Arrowhead Research Corporation (NASDAQ: ARWR), a biopharmaceutical company
developing targeted RNAi therapeutics, today announced that it has priced a
private offering with net proceeds expected to be $60 million. The offering
was priced at $5.86 per share of common stock.

Approximately 3,071,000 shares of common stock and 46,000 shares of a newly
issued class of preferred stock to be designated as the series C convertible
preferred stock are expected to be issued at closing. The series C preferred
shares, which are non-voting securities, are priced at $1,000 per share, are
convertible into shares of common stock at a conversion price of $5.86 per
share of common stock, pay no dividend, and include no liquidation preference.
The offering is expected to close on or about October 11, 2013, subject to the
satisfaction of customary closing conditions.

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.

The securities 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 (SEC) or an applicable exemption from such
registration requirements. The Company has agreed to file a registration
statement with the SEC registering the resale of the shares of common stock
and the shares of common stock issuable upon conversion of the series C
preferred.

About Arrowhead Research Corporation

Arrowhead Research Corporation is a biopharmaceutical company developing
targeted RNAi therapeutics. The company is leveraging its proprietary drug
delivery technologies to develop targeted drugs based on the RNA interference
mechanism that efficiently silence disease-causing genes. Arrowhead
technologies also enable partners to create peptide-drug conjugates that
specifically home to cell types of interest while sparing off-target tissues.
Arrowhead’s pipeline includes clinical programs in chronic hepatitis B virus
and obesity and partner-based programs in oncology.

Contact:

Arrowhead Research Corporation
Vince Anzalone, CFA
626-304-3400
or
The Trout Group
Lauren Glaser, 646-378-2972
ir@arrowres.com
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