LOS ANGELES - December 12, 2017 (Investorideas.com Newswire) Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon" or "Company"), an IP licensing and management company, today announced that it has agreed to sell 1,000,000 shares of its common stock for gross proceeds of approximately $5.0 million. Each share of common stock is being sold at a price of $5.00 per share.
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The shares were offered and are being sold to certain accredited investors in a registered direct offering. The net proceeds from the offering, after deducting estimated offering expenses, will be approximately $5.0 million. The offering is expected to close on or about December 14, 2017.
Marathon intends to use the net proceeds of the offering for working capital and general corporate purposes.
- Published: 13 December 2017
- Written by Investor Ideas