Spherix Announces Registered Direct Offering of $2.77M

Spherix Incorporated (Nasdaq: SPEX) today announced that it has entered into definitive agreements to sell $2.77 million of shares of its common stock and warrants to purchase shares of its common stock in a registered direct offering to institutional investors.

Spherix will issue an aggregate of 4,269,000 shares of common stock to the institutional investors together with warrants to purchase an additional 2,134,500 shares of common stock.