Arrowhead Announces Pricing of Underwritten Offering of Common Stock

  Arrowhead Announces Pricing of Underwritten Offering of Common Stock

Business Wire

PASADENA, Calif. -- February 19, 2014

Arrowhead Research Corporation (NASDAQ: ARWR), a biopharmaceutical company
developing targeted RNAi therapeutics, today announced the pricing of an
underwritten offering of 5,500,000 shares of its common stock, offered at a
price of $18.95 per share. The offering is expected to close on or about
February 24, 2014, subject to customary closing conditions. In addition,
Arrowhead has granted the underwriters a 30-day option to purchase up to an
additional 825,000 shares of common stock. Jefferies LLC, Barclays Capital
Inc. and Deutsche Bank Securities are acting as joint book-runners for the
offering. Piper Jaffray & Co. is acting as lead manager for the offering and
Trout Capital acted as a financial advisor to the Company.

Gross offering proceeds will be approximately $104 million, before deducting
customary 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 strategic purposes.

The securities described above are being offered pursuant to a shelf
registration statement (File No. 333-193748), which was declared effective by
the United States Securities and Exchange Commission (“SEC”) on February 12,
2014.

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 offering can be made only by means of a
prospectus supplement and accompanying prospectus, copies of which may be
obtained at the SEC's website at www.sec.gov, or by request at Jefferies LLC,
520 Madison Avenue, 12th Floor, New York, NY 10022, Attention: Prospectus
Department, or by telephone at (877) 547-6340 or by email to
Prospectus_Department@Jefferies.com; or Barclays Capital Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, or by
telephone at (888) 603-5847, or by email at barclaysprospectus@broadridge.com;
or Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street,
New York, NY 10005-2836, or by telephone at (800) 503-4611, or by email at
prospectus.CPDG@db.com.

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 partner-based programs in obesity and oncology.

Contact:

Arrowhead Research Corporation
Vince Anzalone, CFA
626-304-3400
ir@arrowres.com
The Trout Group
Lauren Glaser, 646-378-2972
ir@arrowres.com
 
Press spacebar to pause and continue. Press esc to stop.