DJ Marathon Patent Group Shares Rise 22% After Public Offering Closes
By Chris Wack
Marathon Patent Group Inc. were up 22% at $1.74 after the company closed its previously announced underwritten public offering of 7.7 million shares of common stock, including the exercise in full by the underwriter of the option to purchase an additional 1 million shares of common stock.
The company said the price for the stock in the public offering price was 90 cents a share.
Marathon Patent Group said the gross proceeds of this offering, before deducting underwriting discounts and commissions and other offering expenses payable by Marathon, are $6.9 million.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
July 28, 2020 13:25 ET (17:25 GMT)
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