By Sheri Kasprzak
New York, Sept. 16 - Acacia Research Corp. said it has received commitments from a group of accredited investors for a $10,536,746 direct placement of stock.
The company will sell 6,385,907 shares of its Acacia Research-CombiMatrix stock at $1.65 each. The price per share is a discount to the company's closing stock price of $1.98 on Sept. 15.
The investors will also receive warrants for 1,596,478 shares, exercisable at $2.40 each for five years.
The shares will be issued under Acacia's shelf registration.
The offering is slated to close Sept. 21.
Piper Jaffray & Co. was the placement agent.
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.
| Issuer: | Acacia Research-CombiMatrix
|
| Issue: | Stock
|
| Amount: | $10,536,746
|
| Shares: | 6,385,907
|
| Price: | $1.65
|
| Warrants: | For 1,596,478 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.40
|
| Placement agent: | Piper Jaffray & Co.
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 21
|
| Stock price: | $1.98 at close Sept. 15
|
|
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