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Seeking Alpha 2021-01-13 07:45:22

Marathon Patent launches $250M direct offering

Marathon Patent Group (MARA) inks securities purchase agreements with institutional investors for the purchase and sale of 12.5M common shares at $20/per share, in a registered direct offering.Expected gross proceeds are $250M. Net proceeds will be used for general corporate purposes and expansion of its business.H.C. Wainwright & Co. is acting as exclusive placement agent. Closing date is January 15.Yesterday's close was $26.15. Shares down 10% after-hours.

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