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Interesting news item:
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WASHINGTON (Dow Jones)--Acacia Research Corp. (ARC.XX) filed to sell up to $50 million of stock and warrants from time to time under a shelf registration statement filed Tuesday with the Securities and Exchange Commission.
The offering may consist of Acacia Research-CombiMatrix (CBMX) shares, and Acacia Research-Acacia Technologies (ACTG) stock or warrants.
Details of the offering will be provided in a prospectus.
Acacia Research said it will use the net proceeds from the offering for working capital.
No underwriters were listed in the filing.
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With reported $35M in CASH, why would a company need $50M extra for working capital?
Especially since overhead is supposedly going down and revenues are going up....
3Q call, management said they had set aside $1M for litigation... pumpers and Acacia marketing were alluding to the big stack of cash in their warchest.
Maybe some answers today on the 4Q Conference Call.
Fight the Show Me The Money!
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