Newport Beach-based Acacia Research Corp. said it expects to close a $19.6 million stock sale Thursday.
Acacia, which sells licensing rights to its digital transmission and biotech patents, said it’s selling 3.5 million shares at $5.6 each to unnamed institutional investors.
Investor funds and accounts affiliated with Apex Capital LLC also are set to buy some of the shares, Acacia said.
Shares of Acacia were down 1.4% to 5.7 in morning trading Thursday.
