Acacia Research Receives $10.5 Million From Warrant Exercise and Forms Internet Incubator, Acacia Launchpad LLC.PASADENA, Calif.--(BUSINESS WIRE)--Nov. 22, 1999-- Acacia Research Corporation (Nasdaq:ACRI) announced today that it has received $10.5 million in proceeds from the exercise of warrants and has formed a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Acacia Launchpad LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The common stock purchase warrants, which had been issued in conjunction with prior privately-placed equity financings, were exercised to purchase approximately 1.2 million shares of the Company's common stock. Acacia Launchpad's mission is to incubate incubate /in·cu·bate/ (in´ku-bat) 1. to subject to or to undergo incubation. 2. material that has undergone incubation. in·cu·bate v. 1. and accelerate the development of new Internet See Web 2.0 and Internet2. companies. Launchpad will provide seed capital and an environment that enables ideas to grow and get to market quickly. Using the Company's marketing, finance, strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , recruiting, and legal resources together with Launchpad's development teams, entrepreneur's can focus solely on developing great products and services. Once a company is past the incubation stage, Acacia Research can provide additional funding through direct investments and capital secured from other strategic venture investors. The initial members of Launchpad's Board of Advisors, will include:
Lisa Crane, CEO and President of Soundbreak.com, a subsidiary of
the Company. Previously, Ms. Crane was the Vice President of NBC
Interactive and General Manager of NBC.com, and a Vice President
for Universal Studios Online. Ms. Crane currently serves as a
Director of Webstakes.com and as a Director of IMSI.
Philip Engelhardt, Senior Advisor to the CEO of Silicon Graphics,
and former consultant to Lucasfilm Ltd and Columbia Pictures
Television. Mr. Englehardt currently serves as a Director of RKO
Pictures and as a Director of MDvista. He served as a strategic
advisor to leading technology companies including
Hewlett-Packard, Digital Equipment, and AT&T and was also
President of investment affiliates of Banque Paribas and Managing
Director of several industry practices at Lehman Brothers.
Paul Grand, Internet entrepreneur and Chairman and CEO of
AdHarmony. Mr. Grand was the co-founder and former CEO of Digital
Planet, which was acquired by IXL, founder and former Chairman of
NetCount, which was acquired by I/PRO, a division of Engage, a
CMGI company, and former CEO of Word of Net.
Phillip van Allen, founder and President of Commotion New Media
and leader of the Interactive Media program at Santa Monica
College's Academy of Entertainment and Technology. Previously,
Mr. Van Allen was an executive producer with Phillips Interactive
Media.
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. and President, Paul Ryan Paul Ryan may refer to:
Acacia Research will continue to make direct investments in and provide management oversight to emerging companies in addition to companies incubated in Launchpad. 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 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. Acacia Research Corporation is a diversified company diversified company A company engaged in varied business operations not directly related to one another. A diversified company is less likely to suffer either a collapse or a spectacular gain in earnings compared with a firm concentrating its operations in a with interests in several enterprises - Acacia Launchpad LLC (Internet incubator), CombiMatrix Corporation (biochips/drug discovery technology), Greenwich Information Technologies LLC (video and audio-on-demand technology), MerkWerks Corporation (software development), Signature-mail.com llc (personalized e-mail service See Internet e-mail service. ), Soundbreak.com Incorporated (Internet music and e-commerce) Soundview Technologies Incorporated (V-chip technology), and Acacia Capital Management (investment advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal ). Acacia Research's website is located at: http://www.acaciaresearch.com. |
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