Key Developments For Arrowhead Research Corporation
Arrowhead Research Corporation (ARWR.O) (Consolidated Issue listed on NASDAQ Capital Market)
Arrowhead Research Corporation's Unidym, Inc. Enters Into Third Year of Joint Development Program With Samsung Electronics Co., Ltd. For Flexible Displays
Arrowhead Research Corporation announced that its majority owned subsidiary, Unidym, Inc., has entered into a joint development agreement with Samsung Electronics Co., Ltd. to extend their collaboration into a third year. The companies have been working jointly to integrate carbon nanotube materials as the transparent conductive layer in display devices.
Arrowhead Research Corporation Announces Completion Of $2.76 Million Private Placement
Arrowhead Research Corporation announced that it has completed a second and final closing of its private offering with selected institutional and accredited investors bringing the proceeds of the offering to a total of $2.76 million. The second closing of the offering was significantly oversubscribed and added $900,000 to the previously announced $1.8 million in proceeds from the offering. Under the terms of the offering, Arrowhead sold 9.2 million units at a purchase price of $0.30 per unit, with each unit consisting of one share of common stock and one warrant to purchase one additional share of common stock at an exercise price of $0.50 per share.
Arrowhead Research Corporation Announces Increase Of Ownership In Unidym Inc.
Arrowhead Research Corporation announced that it has completed the first phase of a plan to increase its ownership in electronics films subsidiary, Unidym Inc. On July 15, 2009, Arrowhead agreed to a stock swap transaction with existing Unidym shareholders, the most recent in a series of transactions that increased Arrowhead's ownership of Unidym to 70%. The transactions consist of the agreement on July 15, 2009 to exchange approximately 750,000 shares of newly issued Arrowhead common stock in exchange for an equal number of Unidym Series C preferred stock with Unidym stockholders; the issuance and exchange of approximately 1.9 million shares of Arrowhead common stock for approximately 1.1 million shares of Unidym Series C Preferred Stock and 833,333 shares of Unidym Series C-1 Preferred Stock effective June 25, 2009; the investment by Arrowhead of approximately $875,000 of cash and the conversion of $950,000 of intercompany loans into Unidym Series C-1 Preferred Stock on May 12, 2009 and June 25, 2009; and The issuance and exchange of approximately 1.3 million shares of Arrowhead common stock to several Unidym stockholders for an equal number of Unidym Series A Preferred Stock completed June 11, 2009.
Arrowhead Research Corporation Announces Private Placement of $2 Million
Arrowhead Research Corporation announced that it has obtained commitments from selected institutional and accredited investors to purchase at least $2 million of common stock and warrants in a private placement transaction. Under the terms of the offering, Arrowhead will sell at least 7.1 million units at a purchase price of $0.30 per unit, with each unit consisting of one share of common stock and a warrant to purchase one additional share of common stock at an exercise price of $0.50 per share. The offering is expected to close no later than July 16, 2009.
Arrowhead Research Corporation Announces CFO Change-Form 8-K
Arrowhead Research Corporation reported in its Form 8-K that on July 2, 2009, Mr. Paul McDonnel indicated his intention to resign as Chief Financial Officer (CFO) of th Company and its subsidiaries, including Calando Pharmaceuticals, Inc., effective as of August 10, 2009 or such other date as may be mutually agreed upon by Mr. McDonnel and the Company. The Board of Directors anticipates appointing Mr. Kingsley as interim CFO of the Company following Mr. McDonnel's departure as the CFO.
