Arrowhead announces offering of 4M shares of common stock
Arrowhead Pharmaceuticals announced its intention to offer and sell 4M shares of its common stock in an underwritten offering pursuant to its existing automatic shelf registration statement. 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. Goldman Sachs, Jefferies, and Piper Jaffray are acting as bookrunning managers for the offering, Cantor Fitzgerald is acting as passive joint bookrunner for the offering, and Robert W. Baird and B. Riley FBR are acting as co-managers for the offering.