By Sheri Kasprzak
New York, Dec. 8 - Acacia Research Corp. received agreements for a $9.996 million direct placement of its CombiMatrix units.
The investors agreed to buy 9.8 million units of one share of Acacia Research-CombiMatrix common stock and one warrant for 1.2 shares at $1.02 per unit.
Each of the warrants is exercisable at $0.87 for five years.
Oppenheimer & Co. Inc. was the placement agent.
Based in Newport Beach, Calif., Acacia is a holding company for Acacia Technologies Group and CombiMatrix Group. CombiMatrix develops technologies to identify and determine the roles of genes, gene mutations and proteins used in drug discovery and development, diagnostics, genomics, proteomics and biosensors.
| Issuer: | Acacia Research Corp. (for CombiMatrix Group)
|
| Issue: | Units of one share of CombiMatrix and one warrant for 1.2 shares
|
| Amount: | $9.996 million
|
| Units: | 9.8 million
|
| Price: | $1.02
|
| Warrants: | For 1.2 shares per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.87
|
| Placement agent: | Oppenheimer & Co. Inc.
|
| Settlement date: | Dec. 8
|
| Stock symbol: | Nasdaq: CBMX
|
| Stock price: | $0.87 at close Dec. 7
|
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