Blockchain Stock News: Marathon Patent Group, Inc. (NASDAQ: $MARA) Announces $7,450,000 Registered Direct Offering
Blockchain Stock News: Marathon Patent
Group, Inc. (NASDAQ: $MARA) Announces $7,450,000 Registered Direct Offering
LOS
ANGELES - December 19, 2017 (Investorideas.com Newswire) Marathon Patent Group,
Inc. (NASDAQ:
MARA),
today announced that it has agreed to sell 1,354,546 shares of its common stock
for gross proceeds of approximately $7,450,000. Each share of common stock is
being sold at a price of $5.50 per share.
The
shares were offered and are being sold to certain accredited investors in a
registered direct offering. The net proceeds from the offering will be
approximately $7,450,000. The offering is expected to close on or about
December 21, 2017.
The
securities were offered by means of a shelf registration statement on Form S-3
(File #333-198569) which was declared effective on January 6, 2015, by the
Securities and Exchange Commission, or SEC. A prospectus supplement and
accompanying base prospectus relating to the offering of the securities will be
filed with the SEC and will be available on the SEC web site at www.sec.gov.
Alternatively, Marathon will arrange to send you the prospectus supplement and
accompanying base prospectus if you request it by calling Marathon at
703-232-1701.
This
press release shall not constitute an offer to sell or a solicitation of an
offer to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
jurisdiction.
About Marathon Patent Group
Marathon is formerly an IP
licensing company. On November 2, 2017, Marathon announced that it has entered
into a definitive purchase agreement to acquire 100% ownership of Global Bit
Ventures Inc. (“GBV”), a digital asset technology company that mines
cryptocurrencies. The closing of the transaction is subject to obtaining
requisite approvals and customary closing conditions. To learn more about
Marathon Patent Group, visit www.marathonpg.com. To learn more about Global Bit Ventures, visit www.globalbitventures.com
Forward-Looking Statements
Statements made in this press
release include forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, regarding, but not limited to, the amount and
use of proceeds the Company expects to receive from the sale of the shares of
common stock in the registered direct offering, the closing of the offering and
the closing of its acquisition of Global Bit Ventures, Inc. Forward-looking
statements can be identified by the use of words such as “may,” “will,” “plan,”
“should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable
terminology. Such forward-looking statements are inherently subject to certain
risks, trends and uncertainties, many of which the Company cannot predict with
accuracy and some of which the Company might not even anticipate, and involve
factors that may cause actual results to differ materially from those projected
or suggested. Readers are cautioned not to place undue reliance on these
forward-looking statements and are advised to consider the factors listed above
together with the additional factors under the heading “Risk Factors” in the
Company's Annual Reports on Form 10-K, as may be supplemented or amended by the
Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue because of
subsequent events, new information or otherwise.
CONTACT INFORMATION
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