Why Spherix (SPEX) Stock Is Up Today

NEW YORK (TheStreet) -- Spherix  (SPEX) rose Tuesday after the intellectual property development company announced it had supported its balance sheet with $20 million in equity financing.

The financing consists of 10 million shares of Series J Convertible Preferred Stock, convertible into common stock, at $2 a share to raise gross proceeds of $20 million.

The stock was up 7.18% to $1.94 at 9:57 a.m.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

SPEX Price Chart

SPEX Price data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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Why Spherix (SPEX) Stock Is Trading Higher Today

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