By Sheri Kasprzak
Atlanta, Feb. 10 - Acacia Research Corp. said it has raised $19.6 million through a direct placement of stock.
The company sold 3.5 million shares of its Acacia Research-Acacia Technologies stock at $5.60 each to a group of institutional investors, including investor funds and affiliates of Apex Capital, LLC.
The offering was scheduled to close Feb. 10.
All of the shares offered in the deal are being sold under Acacia's shelf registration.
Based in Newport Beach, Calif., Acacia is a parent company for Acacia Technologies Group and CombiMatrix Group. Acacia Technologies develops acquires and patents technologies. CombiMatrix develops platform technology to produce biochips.
| Issuer: | Acacia Research Corp.
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| Issue: | Stock
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| Amount: | $19.6 million
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| Shares: | 3.5 million
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| Price: | $5.60
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| Warrants: | No
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| Settlement date: | Feb. 10
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| Stock price: | $5.78 at close Feb. 9
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