Acacia Research Corporation Announces $225 Million Private Placement of Common Stock
Acacia Research Corporation (Nasdaq: ACTG) today announced that it has entered into definitive purchase agreements with certain institutional accredited investors with respect to the private placement of 6.12 million shares of its common stock at a purchase price of $36.75 per share for expected gross proceeds of approximately $225 million before payment of placement agent fees and estimated offering expenses. The closing of this private placement is expected to occur on or about February 22, 2012, subject to customary closing conditions.
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