Marathon Patent Group Announces Closing of $250.0 Million Registered Direct Offering of Common Stock
January 15 2021 - 4:57PM
Marathon Patent Group, Inc. (Nasdaq:MARA) (“Marathon” or “Company”)
today announced the closing of its previously announced registered
direct offering of 12,500,000 shares of its common stock at a
price of $20.0 per share in the offering. The gross proceeds to the
Company were $250.0 million, before deducting placement agent fees
and other offering expenses.
H.C. Wainwright & Co. acted as the exclusive
placement agent for the offering.
The Company intends to use the net proceeds of
the offering for general corporate purposes and to fund ongoing
operations and expansion of its business.
An automatic shelf registration statement on
Form S-3 (File No. 333-252053) relating to the offering of the
shares of common stock described above was filed with the
Securities and Exchange Commission (the "SEC") on January 12,
2021 and automatically became effective under SEC rules. Such
shares may be offered only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. A prospectus supplement and the accompanying prospectus
relating to the offering of the shares of common stock was filed
with the SEC. Electronic copies of the prospectus supplement and
the accompanying prospectus relating to the offering of the shares
of common stock may be obtained on the SEC's website
at http://www.sec.gov or by contacting H.C. Wainwright
& Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022,
by e-mail: placements@hcwco.com or by telephone: (646)
975-6996.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these shares, nor
shall there be any sale of these shares in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
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. 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. Among the factors that could cause actual results to
differ materially from those projected or suggested are risks and
uncertainties associated with market and other conditions. 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.
Name: Jason Assad Phone: 678-570-6791
Email: Jason@marathonpg.com
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