Brief: Acacia Research Streamlines Capital Structure, Strengthens Financial Base, Creating A Corporate Acquisition Platform Backed By Starboard Value LP

Acacia Research

31/10/2022 12:06

Oct 31 (Reuters) - Acacia Research Corp  ACTG.O :
    * ACACIA RESEARCH STREAMLINES CAPITAL STRUCTURE, STRENGTHENS
FINANCIAL BASE, CREATING A CORPORATE ACQUISITION PLATFORM BACKED
BY STARBOARD VALUE LP
    * ACACIA RESEARCH CORP - CEO CLIFFORD PRESS ANNOUNCES
RETIREMENT
WITH SUCCESSFUL COMPLETION OF THIS TRANSFORMATION
    * ACACIA RESEARCH CORP - STARBOARD TO INVEST OVER $245
MILLION IN
ADDITIONAL CAPITAL AND CONVERT ALL OWNERSHIP INTERESTS TO COMMON
SHARES
    * ACACIA RESEARCH CORP - STARBOARD'S GAVIN MOLINELLI TO BE
APPOINTED CHAIR OF ACACIA'S BOARD
    * ACACIA RESEARCH CORP - ACACIA TO CONDUCT RIGHTS OFFERING
AT
$5.25 PER SHARE FOR ALL SHAREHOLDERS AND STARBOARD COMMITS TO
BUY AT LEAST 15 MILLION SHARES
    * ACACIA RESEARCH CORP - ACACIA TO HAVE EXPECTED BOOK VALUE
OF
$5.37 AND ADJUSTED BOOK VALUE OF $5.63
    * ACACIA RESEARCH CORP - MJ MCNULTY HAS BEEN APPOINTED AS
INTERIM-CHIEF EXECUTIVE OFFICER

Source text for Eikon:  ID:nBw1kPHqfa 
Further company coverage:  ACTG.O 
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