Aradigm Offers 33 Million Shares of Common Stock.HAYWARD, Calif. -- Aradigm Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ARDM) today announced the pricing of its public offering of 33,000,000 shares of its common stock at a price of $0.95 per share. The offering is expected to close on Tuesday, January 30, 2007, and is subject to the satisfaction of customary closing conditions. Aradigm has granted the underwriters a 30-day option to purchase up to an additional 4,950,000 shares of common stock to cover overallotments, if any. Punk, Ziegel & Company is the sole book runner Book Runner The managing or lead underwriter who maintains the books of securities sold for a new issue. Notes: In other words, this person is the underwriter who "runs" the books. Often the book runner is given credit for the total size of the deal. and lead managing underwriter Managing underwriter The leading firm in an underwriting group, which originates the deal and acts as an agent for the group. managing underwriter See lead underwriter. . Merriman Curhan Ford & Co. is the co-manager. The public offering of Aradigm common stock is being made only by means of a prospectus, copies of which may be obtained, when available, by contacting Punk, Ziegel & Company, Attention Syndicate, 520 Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY, 10022; telephone 212-308-9494, fax 212-308-1466. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Aradigm Aradigm is an emerging specialty pharmaceutical company focused on the development and commercialization of a portfolio of drugs delivered by inhalation for the treatment of severe respiratory diseases by pulmonologists. Except for the historical information contained herein, this news release contains forward-looking statements that involve risk and uncertainties, including preclinical and clinical results, the timely availability and acceptance of new products, the impact of competitive products and pricing, the availability of funding from partners or capital markets, our ability to successfully complete this offering and receive and apply the proceeds, and the management of growth, as well as the other risks detailed from time to time in Aradigm Corporation's Securities and Exchange Commission (SEC) Filings, including the company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , and quarterly reports on Form 10-Q Form 10-Q See 10-Q. . Aradigm and AERx are registered trademarks of Aradigm Corporation. |
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