Marathon Patent Group Announces Closing of $6.9 Million Underwritten Public Offering of Common Stock and Full Exercise of Op...
July 28 2020 - 1:00PM
Marathon Patent Group, Inc. (Nasdaq:MARA) (“Marathon” or “Company”)
today announced the closing of its previously announced
underwritten public offering of 7,666,666 shares of common stock,
including the exercise in full by the underwriter of the option to
purchase an additional 999,999 shares of common stock, at a
public offering price of $0.90 per share. The gross proceeds
of this offering, before deducting underwriting discounts and
commissions and other offering expenses payable by Marathon, are
approximately $6.9 million.
H.C. Wainwright & Co. acted as the sole
book-running manager for the offering.
The shares described above were offered by
Marathon pursuant to a registration statement on Form S-1 (File No.
333-239534) previously filed with and declared effective by
the Securities and Exchange Commission (SEC) on July
23, 2020 and an additional registration statement on Form S-1 filed
pursuant to Rule 462(b) (File No. 333-240062) which became
automatically effective on July 23, 2020. The offering was made
only by means of a prospectus forming part of the effective
registration statement. The final prospectus relating to the
offering was filed with the SEC on July 27, 2020 and may be
obtained by contacting H.C. Wainwright & Co., LLC, 430 Park
Avenue, 3rd Floor, New York, NY 10022, by calling (646) 975-6996 or
by emailing placements@hcwco.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities 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. 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 AssadPhone:
678-570-6791Email: Jason@marathonpg.com
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