ACACIA RESEARCH CORPORATION (NASDAQ:ACTG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Corporation (the Company) entered into a Tax Benefits
Preservation Plan (the Original Plan) with Computershare Inc., as
Rights Agent, for the purpose of protecting the Companys ability
to utilize potential tax assets, such as net operating loss
carryforwards and tax credits, to offset potential future taxable
income. On April 28, 2017, the Company and the Rights Agent
executed a First Amended and Restated Tax Benefits Preservation
Plan (the Amended Plan).>Capitalized terms used but not
defined herein shall have the meanings assigned thereto in the
Amended Plan. The Amended Plan eliminates the Companys ability to
extend the Final Expiration Date of the Rights beyond 5:00 P.M.,
New York, New York time, on March 15, 2019, whether by action of
the board of directors of the Company establishing a later date
for the expiration of the Rights, as provided in the Original
Plan, or by an amendment to the Amended Plan to Section 27
thereof, without stockholder approval. Except as otherwise
described herein, the terms of the Original Plan remain in force.
complete and is qualified in its entirety by the full text of the
Amended Plan, a copy of which is filed as Exhibit 4.1 and is
incorporated herein by reference.
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(d)
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Exhibit 4.1 First Amended and Restated Tax Benefits
Preservation Plan, dated as of April 28, 2017, by and between Acacia Research Corporation and Computershare Inc., as Rights Agent, which includes the form of Certificate of Designation of the Companys Series A Cumulative Participating Preferred Stock as Exhibit A, the Form of Right Certificate as Exhibit B and the Summary of Terms as Exhibit C |
About ACACIA RESEARCH CORPORATION (NASDAQ:ACTG)
Acacia Research Corporation, through its subsidiaries, is engaged in patent investment, prosecution, licensing and enforcement activities. The Company’s subsidiaries partner with inventors and patent owners for patented inventions. The Company operates in patent licensing and enforcement business segment. The Company’s subsidiaries generate revenues from the granting of intellectual property rights for the use of patented technologies that its subsidiaries control or own. The Company’s subsidiaries assist patent owners with the prosecution and development of their patent portfolios, the protection of their patented inventions from unauthorized use, the generation of licensing revenue from users of their patented technologies and with the enforcement against unauthorized users of their patented technologies through the filing of patent infringement litigation. It is engaged in licensing and enforcing patented technologies. Its subsidiaries include Adaptix, Inc. and Body Science, LLC. ACACIA RESEARCH CORPORATION (NASDAQ:ACTG) Recent Trading Information
ACACIA RESEARCH CORPORATION (NASDAQ:ACTG) closed its last trading session down -0.15 at 4.95 with 478,058 shares trading hands.