$16.5 million investment will fund nanotechnology ventures
Arrowhead Research Corporation has announced it has entered into definitive agreements to sell nearly 3 million units of restricted common stock and warrants to purchase restricted common stock to a large institutional money manager, York Capital Management and select accredited investors. Global Crown Capital, LLC acted as the exclusive placement agent for the private placement.
Capital released by this transaction is expected to be invested in expanding operations at Arrowhead's majority-owned subsidiary, Unidym, and to make new investments in nanotechnology ventures. Unidym recently merged with Carbon Nanotechnologies, Inc., an international company in carbon nanotube manufacturing.
"Since our original investment last year, Arrowhead has made demonstrable progress in each of their businesses," stated Alexander Klabin at York Capital Management. "We are pleased to continue to support their growth by participating in this private offering."
