NEW YORK, March 14, 2018 /PRNewswire/ -- Spherix Incorporated (SPEX), a technology development company committed to the fostering of innovation and monetization of intellectual property, today announced a proposed registered public offering of its common stock. The offering is being made on a "best efforts" basis and subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Laidlaw & Company (UK) Ltd. is acting as exclusive placement agent for the offering.
Spherix intends to use the net proceeds from the offering, if completed, for working capital and general corporate purposes.
The shares are being offered pursuant to an effective shelf registration statement on Form S-3, as amended (File No. 333-222488), that was previously filed with the Securities and Exchange Commission (SEC) and declared effective on January 19, 2018. The shares may be offered only by means of a prospectus supplement and the accompanying base prospectus. The preliminary prospectus supplement and accompanying base prospectus related to the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov and may also be obtained from Laidlaw & Company (UK) Ltd., Attention: Syndicate Department, 546 Fifth Avenue, 5th Floor, New York, New York 10036, telephone (212) 953-4900, email: [email protected].
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these shares in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Spherix is committed to advancing innovation by active participation in all areas of the patent market. Spherix draws on portfolios of pioneering technology patents to partner with and support product innovation. Spherix has acquired over 100 patents from Rockstar Consortium Inc., and several hundred patents issued to Harris Corporation, covering a variety of methods and components involved in switching, routing, networking, optical and telecommunication sectors.
This press release contains statements that are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including with respect to the completion, timing and size of the proposed public offering. Such statements involve risks and uncertainties, such as market risks and the risk that the conditions to the closing of the offering will not be satisfied and other risks detailed in Spherix's most recent annual and quarterly reports filed with the SEC and current reports filed with the SEC since the filing of Spherix's most recent annual report. All forward-looking statements are based upon information available to Spherix on the date the statements are first published. Spherix undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Spherix Incorporated