Vringo Announces $45 Million Registered Direct Offering of Common Stock; 10.344M Shares at $4.35
Vringo, Inc. (NYSE: VRNG) today announced that it has entered into subscription agreements for the sale of 10,344,998 shares of its common stock in a registered direct offering at a price of $4.35 per share, for gross proceeds of approximately $45 million.
The shares were offered directly to five existing institutional investors without a placement agent or underwriter.
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