Spherix to Raise $1.25 Million in Private Placement

Spherix Incorporated (NASDAQ: SPEX) – today announced that it has entered into definitive agreements to sell $1.25 million of shares of its common stock together with warrants to purchase additional shares of its common stock in a private placement transaction.  The closing of the offering is expected to occur on or about October 28, 2011, subject to customary closing conditions, at which time Spherix will receive the cash proceeds and deliver the securities.