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Home > News > CombiMatrix Group to Receive $10 Million from Acacia Research

December 8th, 2006

CombiMatrix Group to Receive $10 Million from Acacia Research

Abstract:
Acacia Research Corporation (Nasdaq:CBMX) (Nasdaq:ACTG) announced today that it has obtained commitments to purchase approximately $10 million of its Acacia Research-CombiMatrix common stock and warrants in a registered direct offering. Under the terms of the transaction, Acacia will sell approximately 9.8 million units for $1.02 per unit to a select group of investors. Each unit will consist of one share of Acacia Research-CombiMatrix common stock and a five year warrant for the purchase of 1.2 shares of common stock at an exercise price of $0.87 per share. Oppenheimer & Co. Inc. acted as exclusive placement agent for the transaction.

Source:
businesswire.com

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