Arrowhead Pharmaceuticals (ARWR) said Wednesday it priced concurrent public offerings of $625 million principal amount of 0.00% convertible senior notes due 2032 and about 3.1 million common shares at $64.50 per share.

The company may also issue, in lieu of common shares to certain investors, pre-funded warrants to purchase up to about 1.6 million common shares at a price of $64.499 per warrant. Each pre-funded warrant will be exercisable at a price of $0.001 per share.

The underwriters have been granted a 30-day option to purchase up to $75 million additional amount of notes and up to 465,116 additional shares.

The notes will be convertible at an initial rate of $87.07 per share.

The company expects to raise net proceeds of $608.2 million to $681.3 million from the notes offering and $188.3 million to $216.6 million from the stock offering.

Net proceeds will be used to fund certain capped call transactions, and for general corporate purposes, the company said.

Settlement is expected to occur on Jan. 12 for the notes offering and on Jan. 9 for the stock offering, subject to customary closing conditions.