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CombiMatrix to Obtain $10.5M in Stock Placement

Sep 16, 2005

NEW YORK, Sept. 16 (GenomeWeb News) - CombiMatrix will receive $10.5 million from a registered direct stock offering by its parent company, Acacia Research, the company said today.

 

Under the terms of the offering, Acacia will sell approximately 6.4 million shares of CombiMatrix's stock at $1.65 per share to a "select group of accredited investors." These investors will also obtain five-year warrants for the purchase of a total of approximately 1.6 million shares of common stock at an exercise price of $2.40 per share. Piper Jaffray is the exclusive placement agent for the transaction.

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