---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-028799"
form_type: "8-K"
ticker: "ACTG"
cik: "0000934549"
company_name: "ACACIA RESEARCH CORP"
filed_at: "2023-03-06T23:59:59+00:00"
generated_at: "2026-06-18T12:35:33.823505+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Acacia closes rights offering; Starboard increases stake to 34.2%, may reach 61.3%

## Summary
- Gross proceeds: ~$360,953 from rights offering, ~$78.75M from concurrent private rights offering with Starboard.
- After issuance, 58,543,312 shares outstanding; Starboard owns 20M shares (34.2%).
- Starboard to exercise Series B Warrants for up to 51.5M shares (57.2%) and convert preferred for up to 61.1M shares (61.3%).
- Board changes: Gavin Molinelli (Starboard) appointed Chair; Katharine Wolanyk to serve until May 2024; at least two independent directors.
- Governance Agreement to terminate after Series B Warrant exercise and no notes outstanding.

## SEC filing metadata
- accession: 0001104659-23-028799
- form_type: 8-K
- ticker: ACTG
- cik: 0000934549
- company_name: ACACIA RESEARCH CORP
- filed_at: 2023-03-06T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 3.02, 8.01, 5.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/934549/000110465923028799/0001104659-23-028799-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/934549/000110465923028799/tm238536d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-028799
- JSON: https://secwatch.observer/filing/0001104659-23-028799.json
- Plain text: https://secwatch.observer/filing/0001104659-23-028799.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.