Every 424B that Arrowhead Research Corporation (ARWR) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow ARWR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ARWR filings page.
Arrowhead Pharmaceuticals, Inc. is offering 1,550,389 shares of common stock and pre-funded warrants to purchase 1,550,387 shares of common stock at $64.50 per share and $64.499 per pre-funded warrant, for total gross proceeds of about $199.998 million. Net proceeds from this equity offering are estimated at approximately $188.3 million, or $216.6 million if the underwriters fully exercise their 465,116-share option. As of September 30, 2025, Arrowhead had 135,701,794 shares of common stock outstanding. Concurrently, the company is separately offering 0.00% convertible senior notes due 2032 with an initial aggregate principal amount of $625 million. Arrowhead plans to use the equity and note proceeds, after funding capped call transactions, for general corporate purposes including R&D, clinical trials, commercialization of REDEMPLO and other late-stage products, and potentially to prepay amounts under its 15.0% Credit Facility, which together with existing cash is expected to fund operations into fiscal year 2029.
Arrowhead Pharmaceuticals, Inc. is offering $625,000,000 aggregate principal amount of 0.00% convertible senior notes due 2032, with an additional $75,000,000 available to underwriters to cover over-allotments. The notes pay no regular interest, are senior unsecured obligations, and are convertible at an initial rate of 11.4844 shares per $1,000 principal amount, equal to an initial conversion price of approximately $87.07 per share, subject to customary adjustments.
Conversion is allowed only upon specified stock-price, trading-price, corporate event, redemption and time-based triggers, and Arrowhead may settle conversions in cash, stock or a combination. The notes are redeemable at Arrowhead’s option from January 16, 2029 if the common stock trades above 130% of the conversion price, and holders can require cash repurchase upon certain fundamental changes. The notes rank equally with other senior unsecured debt, are effectively subordinated to secured debt and structurally subordinated to subsidiary liabilities.
Concurrently, Arrowhead is conducting an equity offering of 3,100,776 common shares (or pre-funded warrants to purchase 1,550,387 shares) plus an underwriter option for 465,116 additional shares. Estimated net proceeds from the notes are about $608.2 million, including approximately $42.8 million for capped call transactions, with remaining proceeds, together with an estimated $188.3 million from the concurrent equity offering and existing liquidity, intended for general corporate purposes and potential prepayment of a 15.0% Credit Facility maturing in 2031. Key risks highlight the additional leverage, subordination of the notes, absence of regular interest, refinancing and repurchase obligations, market and liquidity risks for the notes, tax complexities around conversion adjustments, and counterparty risk and complexity related to the capped call transactions.
Arrowhead Pharmaceuticals is offering $200,000,000 of common stock in a primary public offering. The company has granted underwriters a 30-day option to buy up to an additional $30,000,000 of stock. Its shares trade on the Nasdaq Global Select Market under the symbol ARWR and it had 135,702,000 shares outstanding as of September 30, 2025.
Arrowhead is concurrently marketing $500,000,000 of convertible senior notes due 2032, with a $75,000,000 over-allotment option for the note underwriters. Together with existing cash, cash equivalents and short-term investments, the net proceeds from the equity and note offerings are expected to fund planned operations into fiscal year 2029, including commercialization of REDEMPLO, research and development, clinical trials and potential prepayment of a 15.0% term loan under its Credit Facility.
The company highlights that new investors may experience immediate and substantial dilution and that future equity or convertible debt issuance, including conversion of the notes, could further dilute existing stockholders and pressure the share price. The filing also details risks linked to higher leverage from the new notes, potential volatility from hedging and capped call transactions, and obligations to repurchase or settle the notes in cash or stock upon conversion or certain corporate events.
Arrowhead Pharmaceuticals is offering $500,000,000 of convertible senior notes due 2032, with underwriters holding an option to buy up to an additional $75,000,000 of notes. The notes pay semi-annual cash interest, mature on January 15, 2032, and are convertible into cash, Arrowhead common stock, or a combination, at the company’s election, subject to specified stock price and trading conditions, corporate events, redemption, or during a final free-conversion period before maturity.
The notes are senior unsecured obligations, ranking equally with other senior unsecured debt and effectively subordinated to secured borrowings and subsidiary liabilities. Concurrently, Arrowhead is separately offering $200,000,000 of common stock, plus a $30,000,000 over-allotment option. Net proceeds from the notes will fund capped call transactions, general corporate uses including R&D, commercialization and potential late-stage launches, and may be used in part to prepay a 15.0% Credit Facility, with the combined financings expected to fund operations into fiscal 2029.