Unwired Planet Announces Final Results of Rights Offering
September 13 2013 - 7:00AM
Business Wire
Unwired Planet, Inc. (NASDAQ: UPIP) today announced the final
result of its previously announced rights offering. Through broad
participation, the Company raised $12.5 million of gross proceeds,
including proceeds from a standby commitment made by Indaba
Capital, L.P.
Stockholders subscribed for a total of 5,274,659 shares of the
Company’s common stock pursuant to their basic subscription
privileges, representing a 70% participation rate. In addition, a
total of 2,481,365 shares of common stock will be issued to the
standby purchaser, which amount includes 225,904 shares of common
stock in consideration for providing its standby commitment.
“The participation by our shareholder base underscores the
support for Unwired Planet, has helped strengthen the Company, and
allows us to continue to broaden our licensing efforts,” said Eric
Vetter, president and chief administrative officer of Unwired
Planet.
The rights offering was made pursuant to a Registration
Statement on Form S-3 that was filed with the Securities and
Exchange Commission (SEC) and became effective on August 14, 2013.
For questions about the rights offering, contact Georgeson, the
information agent for the rights offering, at 800-903-2897.
About Unwired Planet
Unwired Planet, Inc. (NASDAQ: UPIP) is the inventor of the
Mobile Internet and a premier intellectual property company focused
exclusively on the mobile industry. The Company's patent portfolio
of more than 2,400 issued US and foreign patents includes the
technologies that allow mobile devices to connect to the Internet
and enable mobile communications. The portfolio spans 2G, 3G and 4G
technologies, as well as cloud-based mobile applications and
services. Unwired Planet's portfolio includes patents
related to key mobile technologies, including baseband mobile
communications, mobile browsers, mobile advertising, push
technology, maps and location based services, mobile application
stores, social networking, mobile gaming and mobile
search. Unwired Planet is headquartered in Reno,
Nevada.
Safe Harbor for Forward-Looking Statements
This release contains forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical fact contained in this release are forward-looking
statements. In some cases, you can identify forward-looking
statements by terminology such as "may," "will," "should,"
"expects," "plans," "anticipates," "believes," "estimates,"
"predicts," "potential" or "continue" or the negative of these
terms or other comparable terminology. These statements are only
current predictions and are subject to known and unknown risks,
uncertainties and other factors that may cause the Company's actual
results, levels of activity, performance or achievements to be
materially different from those anticipated by the forward-looking
statements. These forward-looking statements are subject to a
number of risks, including, but not limited to, those risk factors
discussed in filings with the SEC, including but not limited
to, the Company's current Annual Report on Form 10-K and current
Quarterly Report on Form 10-Q and any amendments thereto. The
Company undertakes no duty to update or revise any of the
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date of this release.
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