Update (4:05 p.m.): Updated with Thursday market close information.
The company priced 10 million shares at $2 a share. Spherix expects net proceeds of approximately $18.3 million.
Spherix shares exploded Tuesday and continued to soar Wednesday after the U.S. Senate and Senate Judiciary Committee Chairman Patrick Leahy removed a patent reform bill from the committee's calendar due to a lack of bipartisan support. Leahy, a Democrat, said many of the proposals in the bill would place too much of a burden on "legitimate patent holders who employ thousands of Americans," according to Spherix's press release.