Acacia Research
This article was originally published in The Gray Sheet
Executive Summary
Majority owner of biological array processor developer CombiMatrix announces the closing of a $19 mil. round of private equity financing Jan. 23. Proceeds from the offering will go toward maintaining a majority stake in CombiMatrix, which filed a registration statement with the SEC on Nov. 22 for a proposed IPO (1"The Gray Sheet" Dec. 11, 2000, p. 15). The offering price was $17.50 per unit, with each unit consisting of one share of Acacia Research stock and one three-year callable common stock purchase warrant, which entitles the holder to buy one share of Acacia stock for $21, and is callable by the firm if the stock's closing price finishes above $26.50 for 20 consecutive trading days on the Nasdaq exchange