---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-007971"
form_type: "8-K"
ticker: "ARWR"
cik: "0000879407"
company_name: "ARROWHEAD PHARMACEUTICALS, INC."
filed_at: "2026-01-09T23:59:59+00:00"
generated_at: "2026-05-16T11:08:29.307956+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-007971
- form_type: 8-K
- ticker: ARWR
- cik: 0000879407
- company_name: ARROWHEAD PHARMACEUTICALS, INC.
- filed_at: 2026-01-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/879407/000119312526007971/0001193125-26-007971-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/879407/000119312526007971/d94918d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-007971
- JSON: https://secwatch.observer/filing/0001193125-26-007971.json
- Plain text: https://secwatch.observer/filing/0001193125-26-007971.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/879407/000119312526007971/0001193125-26-007971-index.htm
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/879407/000119312526007971/0001193125-26-007971-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.