Acacia Research Receives $14.8 Million From Exercise of Warrants.Business Editors & Internet Writers PASADENA, Calif.--(BUSINESS WIRE)--March 9, 2000 Acacia Research Corp. (Nasdaq:ACRI) today announced that it has received $14.8 million in proceeds from the exercise of Common Stock Purchase Warrants to purchase 578,238 shares of the company's Common Stock. All of the warrants, which had been issued in conjunction with a prior privately placed 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. , were exercised. "The proceeds from the warrant exercises will enhance our ability to acquire and build strategic positions in emerging companies and 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. new companies in Launchpad," said Acacia Research President & 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. 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. Acacia Research urges investors to review in detail the risks and uncertainties disclosed in the company's filings under the Securities Exchange Act of 1934, as amended, including, but not limited to the company's quarterly report on Form 10-Q for the period ended Sept. 30, 1999, and the company's Registration Statement on Form S-3/A filed on Feb. 7, 2000, copies of which can be obtained from the company or the Securities and Exchange Commission. The company expressly disclaims any future obligation or undertaking to update or revise any forward-looking statement contained herein. |
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