Spherix Announces Pricing of Underwritten Public Offering of Common Stock
SPHERIX (SPEX)
US:NASDAQ Investor Relations:
spherix.com/investors.php
Company Research
Source: PR Newswire
NEW YORK, Aug. 3, 2016 /PRNewswire/ -- Spherix Incorporated ("Spherix") (NASDAQ: SPEX) an intellectual property development company committed to the fostering and monetization of intellectual property, today announced the pricing of a firm commitment underwritten public offering of up to 1,592,357 shares of its common stock at a fixed price to the public of $1.57. The gross proceeds to Spherix from this offering are expected to be $2,500,000, before deducting the underwriting discount and other estimated offering expenses payable by the Company. The offering is expected to close on or about August 8, 2016, subject to customary closing conditions. In addition, Spherix has granted the representative of the underwriters a 30-day option to purchase up to 231,350 additional shares of its common stock at the public offering price, less the underwriting discounts and commissions. Laidlaw & Company (UK) Ltd. is the sole book-running manager for the underwritten offering. Spherix intends t
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