samedi 24 octobre 2020

Friday, April 22nd 2016 at 12:15pm UTC

HAYWARD, Calif.–(BUSINESS WIRE)– Aradigm Corporation (Nasdaq:ARDM) (“Aradigm” or the “Company”) announced
today the pricing of $23 million of its senior convertible notes due
2021 and related warrants to purchase 263,436 shares of the Company’s
common stock in a private placement conducted pursuant to Regulation D
under the Securities Act of 1933, as amended. The initial conversion
rate will be 191.9386 shares of common stock for each $1,000 principal
amount of notes, which represents an initial conversion price of
approximately $5.21 per share of common stock. Interest on the notes
will be paid semi-annually in arrears at the rate of 9% per year. The
warrants are exercisable at an exercise price of $5.21 per share
beginning on the later of 180 days after the date of issuance or the
date the Company issues a press release announcing data related to the
ORBIT-3 and ORBIT-4 Phase 3 pivotal clinical trials for the Company’s
investigational product Pulmaquin® inhaled ciprofloxacin. The first
closing of the sale of the notes and warrants is expected to occur on
April 25, 2016, and the second closing is expected to occur immediately
after the Company’s resale registration statement to be filed in
connection with the offering has been declared effective, each subject
to customary closing conditions.

The Company intends to use the net proceeds from the offering to fund
the current clinical development and regulatory submission for licensure
of Pulmaquin and for general corporate purposes.

The notes and the warrants have not been registered under the Securities
Act of 1933, as amended, or any state securities laws, and unless so
registered, may not be offered or sold in the United States, except
pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable state
securities laws. This press release shall not constitute an offer to
sell or a solicitation of an offer to buy any such securities.

About Aradigm

Aradigm is an emerging specialty pharmaceutical company focused on the
development and commercialization of drugs for the prevention and
treatment of severe respiratory diseases. Aradigm is currently in Phase
3 development of Pulmaquin (an investigational proprietary formulation
of ciprofloxacin for inhalation) for the treatment of non-cystic
fibrosis bronchiectasis. Aradigm’s inhaled ciprofloxacin formulations
are also product candidates for treatment of patients with cystic
fibrosis and non-tuberculous mycobacteria, and for the prevention and
treatment of high threat and bioterrorism infections, such as inhaled
tularemia, pneumonic plague, melioidosis, Q fever and inhaled anthrax.
In addition, Aradigm has a pipeline composed of programs to prevent
diseases in tobacco smokers through smoking cessation and a diagnostic
program to detect aspirations of gastrointestinal fluid into the
respiratory tract.

This news release contains forward-looking statements that are based
on the current beliefs of management, as well as current assumptions
made by, and information currently available to, management. We use
words like “believe,” “will,” “so we can,” “when,” “anticipate,”
“intend,” “estimate,” “expect,” “project” and similar expressions to
identify forward-looking statements, although not all forward-looking
statements contain these words.
 These forward-looking
statements are necessarily estimates reflecting the best judgment of our
management and involve a number of risks and uncertainties that could
cause actual results to differ materially from those suggested by the
forward-looking statements.
 Investors should consider the
information contained in our filings with the U.S.
and Exchange Commission (the “SEC”), including our Annual Report on Form
10-K for the fiscal year ended 2015, especially in the “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” and “Risk Factors” sections.
 Other unknown or
unpredictable factors also could have material adverse effects on our
future results, performance or achievements.
 In light of
these risks, uncertainties, assumptions and factors, the forward-looking
events discussed in this news release may not occur.
 You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date stated, or if no date is
stated, as of the date of this news release.
 We are not
under any obligation and do not intend to make publicly available any
update or other revisions to any of the forward-looking statements
contained in this news release to reflect circumstances existing after
the date of this news release or to reflect the occurrence of future
events even if experience or future events make it clear that any
expected results expressed or implied by those forward-looking
statements will not be realized.

Aradigm, Pulmaquin and the Aradigm Logo are registered trademarks of
Aradigm Corporation.


Aradigm Corporation
Nancy Pecota, 510-265-8800
Chief Financial

Source: Aradigm Corporation

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