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CombiMatrix to Collect $13.6M From Direct Share Offering

NEW YORK, April 14 (GenomeWeb News) - Acacia Research has found buyers for a  three-million share offering of common stock in its CombiMatrix life sciences unit, the Newport Beach, Calif.-based company said today.

 

The registered direct offering to a group of undisclosed institutional investors is priced at $5 a share, the company said, discounted against the CombiMatrix closing price of $5.53 on Tuesday. The offering, which will close on Thursday, is expected to raise some $13.6 million for Acacia's Mulkiteo, Wash., subsidiary that is commercializing a microarray technology platform.

 

The announcement follows CombiMatrix's move from listing on Nasdaq's small-cap market to its big board in March, joining Acacia's other division, Acacia Research/Acacia Technologies, which began trading on the Nasdaq exchange in December 2002.