Acacia Research Completes $24 Million Private Equity Financing.Business Editors PASADENA, Calif.--(BUSINESS WIRE)--July 26, 2000 Acacia Research Corporation (Nasdaq/NMS: ACRI) announced today the closing of an institutional private 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. of $24 million. Acacia Research 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. , Paul Ryan, commented, "The proceeds from this offering will be used to maintain our majority ownership in CombiMatrix as well as to pursue other related opportunities." The offering price was $27.50 per unit. Each unit consists of one share of Acacia Research's common stock and one three-year callable common stock Callable Common Stock Common stock that allows the issuer to call back the stock at a specific price. Notes: Typically, callable common stock is issued for a subsidiary company by the parent company. purchase warrant. Each common stock purchase warrant entitles the holder to purchase one share of Acacia Research's common stock at a price of $33.00 per share and is callable Callable Applies mainly to convertible securities. Redeemable by the issuer before the scheduled maturity under specific conditions and at a stated price, which usually begins at a premium to par and declines annually. by Acacia Research once the closing bid price of the Company's common stock averages $39.60 or above for 20 consecutive trading days on the Nasdaq National Market System. About Acacia Research Corporation Acacia Research develops and operates technology and Internet companies. Acacia Research's majority-owned subsidiaries include: CombiMatrix Corporation (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), Soundbreak.com Incorporated (music broadcast and lifestyle Internet site), Soundview Technologies Incorporated (v-chip technology) and MerkWerks Corporation (CD-recording software). Significant minority-owned affiliates include: The EC Company (b2b commerce solutions), Mediaconnex Communications Incorporated (software solutions for broadcast advertising transactions), Greenwich Information Technologies LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (video- and audio-on-demand technology), and Signature-mail.com LLC (e-mail personalization service). Acacia Research's website is located at www.acaciaresearch.com. |
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