Spherix closes private placement of common stock, terminates private offering

Mar 27 2014

Spherix Incorporated (NASDAQ: SPEX) (the "Company") today announced that it has closed a private placement of common stock and warrants and terminated the private offering. Laidlaw & Co (UK) Ltd. served as exclusive placement agent in connection with the private offering. The Company is an intellectual property development company committed to the fostering and monetization of intellectual property.

The gross proceeds to the Company before deduction of placement agent fees and offering expenses was approximately $4.4 million.  Net proceeds from the offering are expected to be used for working capital and general corporate purposes.

 

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Spherix Incorporated

Posted in: Business / Finance

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