Welcome to our dedicated page for Acacia Resh news (Ticker: ACTG), a resource for investors and traders seeking the latest updates and insights on Acacia Resh stock.
Acacia Research Corporation reports developments tied to its role as a value-oriented acquirer and operator of businesses across industrial, energy and technology markets. Its updates commonly cover operating and financial results, capital allocation, acquisition activity, and governance matters for a public company traded on Nasdaq under the symbol ACTG.
Company news also describes segment-level activity across Energy Operations, Industrial Operations, Manufacturing Operations and Intellectual Property Operations. Recurring references include Benchmark, Printronix, Deflecto and Acacia Research Group, along with earnings releases, conference presentations, operating-business performance and balance-sheet themes.
Outerbridge Capital Management, holding approximately 4.9% of Comtech Telecommunications Corp. (CMTL), has urged for greater shareholder representation on the board amid reports of Acacia Research Corporation's (ACTG) $30 per share acquisition offer. Outerbridge claims the current board lacks the necessary expertise for a proper evaluation of this strategic option and urges the appointment of three independent nominees to ensure a fair assessment. They highlight recent concerns over a dilutive equity transaction that could jeopardize shareholder value.
On November 1, 2021, Comtech Telecommunications Corp. (NASDAQ: CMTL) acknowledged receipt of an unsolicited, non-binding acquisition proposal from Acacia Research Corporation (NASDAQ: ACTG). The Board of Directors is currently reviewing the proposal alongside independent advisors to decide the best course of action for the company and its shareholders. Goldman Sachs is acting as exclusive financial advisor, while Proskauer Rose and Sidley Austin are serving as legal advisors. No immediate action from shareholders is required.
Acacia Research Corporation (NASDAQ: ACTG) has acquired Printronix Holding Corp. for $33 million, approximately 3.6x Adjusted EBITDA from the fiscal year ended March 31, 2021. Printronix, a leader in industrial impact printers, serves diverse sectors including healthcare and logistics. Acacia's President, Clifford Press, emphasized the strategic alignment and potential for positive cash flows and growth. The acquisition aims to leverage Printronix's strong market position, enhancing Acacia's capabilities in industrial printing solutions.
Acacia Research Corporation (NASDAQ: ACTG) has sold 3.9 million shares of Oxford Nanopore Technologies in an IPO on the London Stock Exchange, raising approximately $22.3 million. Acacia retains a 4.4% stake in Oxford Nanopore, valued at $280.8 million as of October 4, reflecting a 78% uplift from its book value on June 30, 2021. The remaining shares are under a 180-day lock-up. Acacia's CEO noted the IPO's success as a testament to Oxford Nanopore's leadership in its industry.
Spok Holdings, Inc. (NASDAQ: SPOK) announced it received a proposal from Acacia Research Corporation (NASDAQ: ACTG) to acquire all outstanding shares for $10.75 per share in cash. Spok's Board plans to evaluate this offer with its financial and legal advisors. No immediate action is required from shareholders. The proposal’s future remains uncertain, as there are no assurances it will result in a formal offer or agreement. Spok continues to provide critical healthcare communication solutions, enhancing workflows in the U.S. healthcare sector.
Acacia Research Corporation (Nasdaq: ACTG) reported significant financial improvements for Q2 2021, with gross revenues rising to $17.4 million from $2.1 million year-over-year. The company achieved a GAAP net income of $18.8 million, or $0.23 per diluted share. Book value per share stood at $3.02, down from $5.94 at year-end 2020, primarily due to increased liabilities associated with warrants and preferred stock. Total capital available is $770 million, with a life sciences portfolio yielding $25.8 million in gains this quarter.
Acacia Research Corporation (NASDAQ: ACTG) will release its second quarter 2021 financial results on August 16, 2021, at 8:00 a.m. ET. A conference call will follow at 11:00 a.m. ET to discuss the results. Investors can join the call via telephone or through a live webcast on the company's website. Acacia focuses on acquiring undervalued businesses within technology, life sciences, and other sectors, aiming for value creation through its capital resources and operational expertise. The company warns that actual results may differ from forecasts due to various uncertainties.
Acacia Research Corporation (NASDAQ: ACTG) reported Q1 2021 results, showing cash and equity investments totaling $325.1 million, up from $274.6 million at year-end 2020. However, gross revenues declined to $5.8 million, with a net loss of $(136.7) million or $(2.81) per diluted share, significantly higher than the previous year’s loss of $(12.2) million. Book value fell to $2.64 per share from $5.94, primarily due to non-cash liabilities tied to derivatives. The company continues to explore acquisition opportunities in the technology and healthcare sectors.
Acacia Research Corporation (ACTG) will release its Q1 2021 financial results on May 17, 2021, at 8:00 a.m. ET. A conference call to discuss these results will follow at 11:00 a.m. ET. Investors can access the call by dialing (877) 407-0778 (U.S. and Canada) or (201) 689-8565 (international), with a simultaneous webcast on the company's website. Founded in 1993, Acacia focuses on investing in Intellectual Property Assets, partnering with inventors to maximize the financial value of patents.
Acacia Research Corporation (Nasdaq: ACTG) reported its financial results for the year ending December 31, 2020. The company completed a significant acquisition of life science assets valued at over $117.5 million, funded by $282.3 million, and recouped $188.5 million by selling some holdings. As of December 31, 2020, gross revenues reached $29.8 million, while GAAP net income surged to $88.5 million, or $1.54 per diluted share, up from a loss of $(20.4 million) the previous year. Cash reserves increased to $274.6 million, while book value climbed to $292.5 million.