Acacia Research Affiliate Soundbreak.com Raises $19 Million in Equity Financing.Business/Entertainment Editors PASADENA, Calif.--(BUSINESS WIRE)--March 8, 2000 Acacia Research Corp. (Nasdaq:ACRI) announced that affiliate Soundbreak.com raised $19 million in equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . Acacia Research participated in the Series C convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". offering and owns 67 percent of Soundbreak on an as-converted basis. "Soundbreak, under the leadership of CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Lisa Crane, has assembled a world-class team and launched the most dynamic music destination on the Web," said Paul Ryan Paul Ryan may refer to:
An innovative hybrid of new and traditional media, Soundbreak is a branded, music-lifestyle destination with rich graphics, edgy animation and an irreverent identity. Initially targeting "Generation i," the first generation of Internet users encompassing the 15- to 35-year-old demographic, Soundbreak.com is designed to deliver the most comprehensive and engaging experience yet for music lovers around the world. Since its launch in February, Soundbreak has hosted several well-known celebrities in its studios, including Fat Boy Slim, Supreme Beings of Leisure, Pauly Shore, and the Hughes Brothers, as well as a reunion of the original MTV VJs This is a list of people who have been VJs on MTV, the music video channel in the U.S. and around the world. Originally hired to represent a wide array of musical tastes and personal ethnicities, VJs eventually became famous in their own right. . About Soundbreak.com Inc. Soundbreak.com develops dynamic music Web sites that fuse the live entertainment value of radio with the power of the Internet. Initially targeting lovers of alternative music, Soundbreak.com offers a robust Web experience with live, 24-hour global Webcasts hosted by professional digital jocks, state of the art graphics, one-click e-commerce and extensive communication and user feedback tools. Soundbreak.com combines great music entertainment with dynamic audience participation across the globe, creating a unique environment where users can explore their interests in music, contribute and share their personal experiences, and benefit from exposure to music industry professionals. Soundbreak.com is a pre-IPO company located in West Hollywood, Calif. About Acacia Research Corp. Acacia Research develops and operates Internet and technology-related businesses as well as acquires strategic positions in other companies. Acacia Research's majority-owned subsidiaries include: Acacia Launchpad LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (Internet incubator), CombiMatrix Corp. (biochip biochip Small-scale device, analogous to an integrated circuit, constructed of or used to analyze organic molecules associated with living organisms. One type of theoretical biochip is a small device constructed of large organic molecules, such as proteins, and capable of technology), MerkWerks Corp. (software development), Soundbreak.com Inc. (music broadcast and lifestyle Internet site), and Soundview Technologies Inc. (v-chip technology). Significant minority-owned affiliates include: The EC Company (b2b eTransactions), Greenwich Information Technologies LLC (video- and audio-on-demand technology), Mediaconnex Communications (b2b e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. ), and Signature-mail (personalized e-mail service). Acacia Research's Web site is located at http://www.acaciaresearch.com. This release contains forward-looking statements within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements address future events and conditions concerning the company's and its subsidiary's business plans. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties, such as future economic conditions, changes in consumer demand, legislative, regulatory and competitive developments, and other circumstances affecting anticipated revenues and costs, which may cause actual results to differ materially. The company expressly disclaims any future obligation or undertaking to update or revise any forward-looking statement contained herein. |
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