Spherix's North South Raises $2M from Strategic Investors for Monetization of Parent Portfolio
Spherix's (NASDAQ: SPEX) North South Holdings Inc. announced that it raised of $2.0 million through its offering of common stock to strategic investors in the intellectual property monetization space. Proceeds will be used to continue the monetization of patents currently owned by North South, as well as seek additional opportunities for growth.
"We are very pleased with the success of this capital raise and the expression of confidence from high-quality intellectual property investors," said Anthony Hayes, Chief Executive Officer of North South Holdings. "We believe that this financing will enable us to continue to monetize the patents we already own, as well as seek additional growth opportunities."
Roth Capital Partners, LLC and Dawson James Securities, Inc. acted as placement agents for the offering.
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