MARATHON PATENT GROUP,INC. (NASDAQ:MARA) Files An 8-K Other EventsItem 8.01 Other Events.
On January 27, 2017, Marathon Patent Group, Inc. (the “Company”) entered into a sales agreement (the “Sales Agreement”) with Northland Securities, Inc., as agent (“Northland”), to which the Company may offer and sell, from time to time through Northland, up to 750,000 shares (the “Shares”) of the Company’s common stock in an “at the market offering” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended.
As of January 31, 2017, the Company sold all 750,000 shares of common stock under the Sales Agreement for gross proceeds of approximately $1,301,923 and no further shares are available under the terms of the Sales Agreement as filed on January 27, 2017. A description of the terms and conditions of the Sales Agreement is set forth in the Company’s current report on Form 8-K filed on January 27, 2017 and incorporated herein by reference.