Marathon Patent Group, Inc. (MARA) Raises $6.0 Million; Allocated to Fund Operations, Potential Patent Acquisitions
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…