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:
syndicate@laidlawltd.com.
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.
About Spherix
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.
Forward-Looking Statements
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.
Company
Contact:
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Investor
Relations:
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Hayden IR
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Brett Maas, Managing
Partner
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Phone: (646)
536-7331
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Email:
brett@haydenir.com
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www.haydenir.com
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Spherix:
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Phone:
212-745-1373
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Email: investorrelations@spherix.com
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www.spherix.com
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SOURCE Spherix Incorporated