January 8, 2026 11:29am
Of $625 M aggregate principal amount of 0.00% convertible senior notes due 2032 and 3,100,776 shares of common stock, at a public offering price of $64.50 per share and pre-funded warrants, at an offering price of $64.499 per pre-funded warrant, for up to 1,550,387 shares of common stock
ARWR is up +$1.14 or +1.74% to $66.85
Getting it done while it can and still with a positive response
The offering size of the note offering was increased from the previously announced offering size of $500,000,000 aggregate principal amount of notes.
The issuance and sale of the notes are scheduled to settle on January 12, 2026, and the issuance and sale of the common stock and, if applicable, the pre-funded warrants are scheduled to settle on January 9, 2026, in each case subject to customary closing conditions.
ARWR also granted the underwriters of the note offering a 30-day option to purchase up to an additional $75,000,000 principal amount of notes solely to cover over-allotments and granted the underwriters of the common stock and pre-funded warrant offering a 30-day option to purchase up to an additional 465,116 shares of common stock.
J.P. Morgan and Jefferies are acting as joint book-running managers for the note offering, and Jefferies and J.P. Morgan are acting as joint book-running managers for the common stock and pre-funded warrant offering. BofA Securities, Piper Sandler and RBC Capital Markets are acting as bookrunners for the offerings.
The completion of the note offering will not be contingent on the completion of the common stock and pre-funded warrant offering, and the completion of the common stock and pre-funded warrant offering will not be contingent on the completion of the note offering.
The offering door is open, jump with both feet!
