Vringo, Inc. (NYSE MKT: VRNG), a company engaged in the innovation, development, and monetization of mobile technologies and intellectual property, today announced the closing of its previously announced registered direct offering. Vringo has received approximately gross proceeds of approximately $31.2 million from the sale of 9.6 million shares of its common stock in the offering.
As previously announced, Nokia agreed to sell to Vringo a portfolio consisting of over 500 patents and patent applications worldwide. Vringo anticipates receiving assignments of most of the patents and patent applications over the next three months.
Vringo also announced that management will host a conference call to discuss its financial results for the second quarter of 2012 and subsequent events. The details are as follows:
|Date: Tuesday, August 14, 2012|
|Time: 5:00 p.m. Eastern (Vringo recommends dialing in ten minutes in advance)|
|Domestic: (888) 882-8678|
|International: (706) 645-4500|
|Replay (available shortly after conclusion): (855) 859-2056|
|Confirmation Code: 20623594|
The sale and issuance of the shares was made pursuant to a prospectus supplement dated August 9, 2012 and an accompanying prospectus dated August 2, 2012, pursuant to Vringo's effective "shelf" registration statement on Form S-3 (File No. 333-182823), which was filed with the Securities and Exchange Commission on July 24, 2012 and was declared effective on August 2, 2012.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Vringo, Inc. nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.