Marathon Patent Group, an intellectual property services and patent licensing company, has received $6.0 million in subscriptions for units offered in a privately subscribed offering at $0.40 per Unit, with each unit consisting of one share of common stock and a three-year warrant to purchase one-half of one share of common stock at an exercise price of $0.50 per share.
The company said it plans to use the net proceeds from this offering to fund operations, and willcontinue to seek strategic IP asset acquisitions such as revenue-producing patents and portfolios.
“The recent financing will strengthen Marathon’s balance sheet and facilitate the acquisition of critical intellectual property assets,” Marathon CEO Doug Croxall stated in the press release.
Marathon operates through two business units: IP Services, which develops strategies that allow clients to maximize the value of their intellectual property assets; and IP Licensing, which acquires patent assets, partners with patent holders, and monetizes patent portfolios through actively managed patent licensing campaigns.
Marathon last week reported that its wholly owned subsidiary, Bismarck IP, had acquired three U.S. and 10 international patents and patent applications from Siemensas part of a previous agreement.
For more information visit www.marathonpg.com
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