Marathon Patent to sell shares to raise $7.45m

IP licensing firm Marathon Patent Group, Inc. announced it agreed to sell 1,354,546 shares of its common stock for gross proceeds of $7.45 million.

Each share of common stock is being sold for $5.50.

“The shares were offered and are being sold to certain accredited investors in a registered direct offering,” said Marathon.

“The offering is expected to close on or about December 21, 2017.”