Arrowhead Raises Additional Capital from Institutional Shareholders; Increases Ownership in RNAi Subsidiary.PASADENA, Calif. -- Arrowhead arrowhead, any plant of the genus Sagittaria, widely distributed marsh or aquatic herbs of the primitive family Alismataceae (water-plantain family). The name derives from the arrowhead-shaped leaves of many species. Research Corporation, (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ARWR) a nanotechnology company commercializing new technology in the areas of life sciences, electronics and energy, today announced that it has closed the sale of 204,918 shares of restricted common stock to Knott Partners, LP and Potomac Capital Partners, LP and certain of their affiliates. A portion of the proceeds of the sale was used to increase Arrowhead's ownership position in its majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. , Calando ca·lan·do adv. & adj. Music With a gradual decrease in volume and often tempo. Used chiefly as a direction. [Italian, present participle of calare, to slacken Pharmaceuticals. Under the terms of the agreement, Knott Partners and Potomac Capital purchased 102,250 and 102,668 shares, respectively of restricted common stock at $4.88 per share which represents the 10-day trailing average price from August 4, the date Arrowhead's Board approved the transaction. Arrowhead purchased 240,000 shares of the common stock of Calando Pharmaceuticals from a minority holder for an aggregate purchase price of $480,000. The remainder of the proceeds will be used for general corporate purposes. About Arrowhead Research Corporation Arrowhead Research Corporation is a publicly-traded nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is building value for shareholders through the progress of majority owned subsidiaries founded on nanotechnologies originally developed at universities. The company works closely with universities to source early stage deals and to generate rights to intellectual property covering promising new nanotechnologies. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications, including anti-cancer drugs, RNAi therapeutics, carbon-based electronics and compound semiconductor materials Semiconductor materials are insulators at absolute zero temperature that conduct electricity in a limited way at room temperature (see also Semiconductor). The defining property of a semiconductor material is that it can be doped with impurities that alter its electronic properties . Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. 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 the recent economic slowdown affecting technology companies, the future success of our scientific studies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our 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 10-K/A, recent and forthcoming Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. and 10-Q/A, recent Current Reports on Forms 8-K and 8-K/A, our Registration Statement on Form S-3, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. |
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