Acacia Research Q2 net loss narrows to $18.8M; completes recapitalization with Starboard

ACACIA RESEARCH CORP

2023-Q2 EPS reported -$0.26 revenue$22,707,000

GAAP net loss of $18.8M ($0.36 loss per share) vs $61.5M loss Q2 2022; revenue $7.9M (down 53% YoY).
Operating loss $12.5M; Printronix contributed $7.5M revenue and $513K operating loss.
Recapitalization on July 13: eliminated $60M notes and $94.9M derivative liabilities; issued 41.1M shares; Starboard now owns 61.2%.
Cash and equity investments at fair value total $408M; adjusted book value post-recap $502.2M ($5.03/share).
Life Sciences Portfolio generated $504.3M in proceeds vs $301.4M purchase price; held $67.9M book value at Q2 end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

ACACIA RESEARCH CORP reported second quarter 2023 results: revenue $7.9 million, net income $18.8 million, EPS $0.36 per diluted share.

Period: second quarter 2023
Revenue: $7.9 million
Net income: $18.8 million
EPS: $0.36 per diluted share
Result: reported results

Exact text from the filing

◦ As a result of the Recapitalization Transactions, Starboard holds 61,123,595 shares of Common Stock, representing approximately 61.2% of Acacia’s Common Stock • Generated $7.9 million in consolidated revenue for the quarter compared to $16.7 million in revenue in the second quarter of 2022. • Recorded $1.4 million of net realized and unrealized losses during

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Source: SEC EDGAR

accession 0000934549-23-000083

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