By Sheri Kasprzak
Atlanta, June 30 - Acacia Research Corp. said it plans to raise $2,925,999 in a direct placement of CombiMatrix Corp.'s shares.
The offering includes 1,300,444 shares of CombiMatrix at $2.25 each to a group of institutional investors.
The shares are being sold under Acacia's shelf registration.
The deal is expected to close July 5.
Based in Newport Beach, Calif., Acacia operates Acacia Technologies Group and CombiMatrix Group. CombiMatrix develops technologies to determine roles of genes, gene mutations and proteins for use in the biotechnology sector.
The proceeds will be used to fund the company's entry into molecular diagnostics. The funds will also be used for research and development.
Issuer: | Acacia Research Corp.
|
Issue: | Stock (shares of CombiMatrix Corp.)
|
Amount: | $2,925,999
|
Shares: | 1,300,444
|
Price: | $2.25
|
Warrants: | No
|
Pricing date: | June 30
|
Settlement date: | July 5
|
Stock price: | $2.43 at close June 29
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.