ARCA biopharma Announces $3 Million Equity Offering

BROOMFIELD, Co--(BUSINESS WIRE)--ARCA biopharma, Inc. (Nasdaq: ABIO), a biopharmaceutical company developing genetically-targeted therapies for atrial fibrillation, heart failure and other cardiovascular diseases, today announced that it has agreed to sell approximately $3 million of its common stock and warrants to institutional investors in a registered direct offering. ARCA will issue an aggregate of approximately 1.68 million shares of common stock to investors together with warrants to purchase approximately 1.18 million shares of common stock. All of the securities are being offered through a prospectus supplement pursuant to the Company’s effective shelf registration statement and base prospectus contained therein.