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Silence Therapeutics sells another slug of its holding in Arrowhead

In total, Silence Therapeutics has now sold 6,358,850 Arrowhead shares on the open market, realising proceeds of US$23.0mln (£17.2mln)

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The company will use the proceeds from the sale to fund working capital requirements

Silence Therapeutics plc (LON:SLN) said it has sold 2,317,693 shares in Arrowhead Pharmaceuticals Inc.(NASDAQ:ARWR) for an average price of US$3.60, reducing its holding in Arrowhead to 0.63%.

In total, Silence Therapeutics has now sold 6,358,850 Arrowhead shares on the open market, realising proceeds of US$23.0mln (£17.2mln). The average purchase price per share was US$1.65 and the average selling price of the 6,358,850 shares sold was US$3.62. The total profit recorded is therefore US$12.5mln, or £8.7mln.

READ: Silence Therapeutics offloads a slug of its Arrowhead holding at significant profit

The company will use the proceeds from the sale to fund working capital requirements.

Silence said it has determined that it may be advantageous to liquidate portions or all of its remaining holding of Arrowhead shares from time to time in an orderly manner consistent with prudent management of its investment.

READ: Silence Therapeutics' value climbs as it looks for IP redress

The Company still holds 472,509 common shares which represents 0.63% of Arrowhead.

 

Quick facts: Silence Therapeutics PLC

Price: 540 GBX

AIM:SLN
Market: AIM
Market Cap: £423.2 m
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