Unwired Planet, Inc. (NASDAQ: UPIP) (“Unwired Planet” or the “Company”) today announced a financing transaction that will provide an additional $50 million of long term financing to support the Company's licensing efforts. The financing consists of a $25 million private placement of senior notes, a $12.5 million registered direct placement of common stock and a $12.5 million fully backstopped equity rights offering to current shareholders. The Company has entered into definitive agreements with Indaba Capital Fund, L.P. (“Indaba”) in connection with the private placement of senior notes and the registered direct placement of common stock. Indaba has also agreed to fully backstop the Company’s proposed $12.5 million rights offering. “We are pleased to announce this capital raising transaction, which provides a long term and flexible source of funding for our ongoing intellectual property licensing program,” said Eric Vetter, President and Chief Administrative Officer of Unwired Planet. “This $50 million financing strengthens the Company’s financial position and allows us to broaden our licensing efforts.” Peter Feld, Chairman of Unwired Planet added: “The rights offering is designed to give all shareholders an opportunity to participate in this financing as we continue to roll out our licensing efforts following the expansion of our patent portfolio through the transaction with Ericsson earlier this year.” Derek Schrier, Managing Partner and CIO of Indaba Capital, added: “We are very pleased to support Unwired Planet with this capital raising. The Company has assembled a strong management team with deep intellectual property expertise. With its rich intellectual property portfolio and aligned and supportive stakeholders, we believe that Unwired Planet is well positioned to generate significant licensing income over the coming years.” The proceeds from the financing transactions are expected to be used for general corporate purposes as the Company continues to pursue its long term licensing program. The closing of the private placement of senior notes and the registered direct placement of common stock are expected to take place on or about June 28, 2013, subject to satisfaction of customary closing conditions.