Business Briefs: Macerich, Arrowhead Research, Learning Tree

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& #8226; Macerich Co.

announced that it plans to sell 9.5 million shares of common stock at a price of $69.50 per share. The Santa Monica-based real estate investment trust’s offering is expected to raise $649 million and will be used to fund recent acquisitions such as Thursday’s $187.5 million buy of Valley River Center mall in Eugene, Ore. and pay down outstanding debt. The closing of the offering will occur on Jan. 19.



& #8226; Arrowhead Research Corp.

said it will sell about 5.6 million shares to York Capital Management and Knott Partners LP for $19.6 million, to accelerate its growth and strengthen its strategic position within the emerging field of nanotechnology.


Under the terms of the deal, Pasadena-based Arrowhead will sell nearly 4.2 million shares of restricted common stock to York and about 1.4 million shares of restricted common stock to Knott for $3.50 per share. The firms will also receive warrants to buy an additional 1.4 million shares for $5.04 per share. With the purchase, Knott said it will own 12.5 percent of Arrowhead, up from a previous 9.5 percent.



& #8226; Learning Tree International Inc.

reported fourth-quarter net income of $26,000 (breakeven) for the three months ended Sept. 30, compared with a loss of $974,000 (6 cents per share) for the like period a year earlier. Revenue for the El Segundo-based provider of courses and training to IT professionals fell 2 percent to $36.5 million.

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