Arrowhead prices upsized $625M zero-coupon convertible notes and $216.6M equity offering

ARROWHEAD PHARMACEUTICALS, INC.

Net proceeds of ~$681.3M from $700M (including over-allotment) of 0.00% convertible notes due 2032.
Net proceeds of ~$216.6M from equity offering: 3.1M shares at $64.50 plus pre-funded warrants for 1.55M shares.
Notes convertible at initial price of ~$87.07 (35% premium); capped call transactions entered to reduce dilution.
Proceeds for general corporate purposes, R&D, commercialization, and potential prepayment of Sixth Street credit facility.
Offerings priced Jan 7, 2026; equity closes Jan 9, notes close Jan 12, subject to customary conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ARROWHEAD PHARMACEUTICALS, INC. entered into Equity Underwriting Agreement with Jefferies LLC and J.P. Morgan Securities LLC, as representatives of the several underwriters (effective 2026-01-07).

Action: entry
Agreement: underwriting
Counterparty: Jefferies LLC and J.P. Morgan Securities LLC, as representatives of the several underwriters
Effective: 2026-01-07

Exact text from the filing

On January 7, 2026, Arrowhead Pharmaceuticals, Inc. (the “Company”) entered into an underwriting agreement (the “Equity Underwriting Agreement”) with Jefferies LLC and J.P. Morgan Securities LLC, as representatives of the several underwriters named therein (collectively, the “Equity Underwriters”), to issue and sell 3,100,776 shares of the Company’s common stock

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ARROWHEAD PHARMACEUTICALS, INC. entered into Convertible Notes Underwriting Agreement with J.P. Morgan Securities LLC and Jefferies LLC, as representatives of the several underwriters valued at $625,000,000 aggregate principal amount (effective 2026-01-07).

Action: entry
Agreement: underwriting
Counterparty: J.P. Morgan Securities LLC and Jefferies LLC, as representatives of the several underwriters
Value: $625,000,000 aggregate principal amount
Effective: 2026-01-07

Exact text from the filing

On January 7, 2026, the Company entered into an underwriting agreement (the “Convertible Notes Underwriting Agreement”) with J.P. Morgan Securities LLC and Jefferies LLC, as representatives of the several underwriters named therein (the “Convertible Notes Underwriters”), to issue and sell (the “Convertible Notes Offering”) $625,000,000 aggregate principal amount of its 0.00% convertible senior notes due 2032

View on SEC.gov

294 material agreements filed in the last 30 days. Browse all material agreements →

ARROWHEAD PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-26-007971

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