Home > Press > CombiMatrix to Receive $5 Million from Registered Direct Offering
Acacia Research Corporation (Nasdaq:ACTG)(Nasdaq:CBMX) announced today that is has obtained commitments to purchase $5 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 6.8 million units for $0.738 per unit to a select group of investors. Participants in this financing included Dr. Amit Kumar, President and CEO of CombiMatrix, Tom Akin and Dr. John Abeles, all of whom are directors of CombiMatrix Corp. Each unit will consist of one share of Acacia Research-CombiMatrix common stock and a five-year warrant for the purchase of 1.5 shares of stock at an exercise price of $0.55 per share. The closing of the offering is expected to take place on May 7, 2007, subject to the satisfaction of customary closing conditions. All of the shares of Acacia Research-CombiMatrix common stock are being offered by Acacia pursuant to an effective registration statement previously filed with the Securities and Exchange Commission.
CombiMatrix to Receive $5 Million from Registered Direct Offering
NEWPORT BEACH, CA | Posted on May 7th, 2007
"This financing strengthens our balance sheet as we split-off from Acacia, and it provides additional capital to fund our expansion in the molecular diagnostics market," said Dr. Amit Kumar, President and CEO of CombiMatrix Corporation.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state of jurisdiction. The shares of common stock may only be offered by means of a prospectus. Copies of the prospectus supplement and accompanying base prospectus are on file with the Securities and Exchange Commission.
About Acacia Research Corporation
Acacia Research Corporation comprises two operating groups: Acacia Technologies Group and CombiMatrix Group.
The CombiMatrix group is developing a platform technology to rapidly produce tailored-content arrays, which are semiconductor-based tools for use in identifying and determining the roles of genes, gene mutations and proteins. The CombiMatrix's group's technology has a wide range of potential applications in the areas of genomics, proteomics, biosensors, drug discovery, drug development, diagnostics, combinatorial chemistry, material sciences and nanotechnology.
The Acacia Technologies group develops, acquires, and licenses patented technologies. Acacia controls 68 patent portfolios covering technologies used in a wide variety of industries including audio/video enhancement & synchronization, broadcast data retrieval, computer memory cache coherency, credit card fraud protection, database management, data encryption & product activation, digital media transmission (DMT®), digital video production, dynamic manufacturing modeling, enhanced Internet navigation, image resolution enhancement, interactive data sharing, interactive television, laptop docking station connectivity, microprocessor enhancement, multi-dimensional bar codes, resource scheduling, spreadsheet automation, and user activated Internet advertising.
Acacia Research-Acacia Technologies (Nasdaq:ACTG) and Acacia Research-CombiMatrix (Nasdaq:CBMX) are both classes of common stock issued by Acacia Research Corporation and are intended to reflect the performance of the respective operating groups and are not issued by the operating groups.
Information about the Acacia Technologies Group and the CombiMatrix Group is available at http://www.acaciaresearch.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
For more information, please click here
Acacia Research Corporation
Rob Stewart, Investor Relations, 949-480-8300
Copyright © Business Wire 2007
If you have a comment, please Contact
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Malaysian Nanotechnology Company Nanopac Innovation Ltd. lists on the NSX January 19th, 2015
Aspen Aerogels, Inc. to Present at the Needham Growth Conference January 8th, 2015
Blend Therapeutics Secures $21 Million Financing and Unveils Novel Pentarin™ Platform for Cancer Therapeutics: Company’s Technology and Expertise in Cancer R&D Evolve to Create New Class of Miniaturized Biologic Drug Conjugates (mBDCs) Encapsulated in Nanoparticles January 8th, 2015
Nanometrics to Announce Fourth Quarter and Full Year Financial Results on February 2, 2015 January 7th, 2015
Made-in-Singapore rapid test kit detects dengue antibodies from saliva: IBN's MedTech innovation simplifies diagnosis of infectious diseases January 29th, 2015
Iranian Researchers Planning to Produce Edible Insulin January 28th, 2015
Nanoparticles that deliver oligonucleotide drugs into cells described in Nucleic Acid Therapeutics January 28th, 2015
Nanoliposomes Help Efforts to Cure Bacterial Infections January 27th, 2015
Advantest to Exhibit at SEMICON Korea in Seoul, South Korea February 4-6 Showcasing Broad Portfolio of Semiconductor Products, Technologies and Solutions January 29th, 2015
Park Systems Announces Innovations in Bio Cell Analysis with the Launch of Park NX-Bio, the only 3-in-1 Imaging Nanoscale Tool Available for Life Science Researchers January 29th, 2015
2015 Nanonics Image Contest January 29th, 2015
Iranian Scientists Use MOFs to Eliminate Dye Pollutants January 29th, 2015
Spider electro-combs its sticky nano-filaments January 28th, 2015
Nanoshuttle wear and tear: It's the mileage, not the age January 26th, 2015
Engineering self-assembling amyloid fibers January 26th, 2015
DNA 'glue' could someday be used to build tissues, organs January 14th, 2015