---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-081460"
form_type: "8-K"
ticker: "ACTG"
cik: "0000934549"
company_name: "ACACIA RESEARCH CORP"
filed_at: "2023-07-17T23:59:59+00:00"
generated_at: "2026-06-13T08:01:15.226136+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Acacia Research completes recapitalization; Starboard converts preferred & exercises warrants, now owns 61.2%

## Summary
- Starboard converted 350,000 Series A preferred shares into 9,616,746 common shares, including 27,704 for accrued dividends.
- Starboard exercised 31,506,849 Series B warrants via note cancellation and cash, eliminating $60M in senior secured notes.
- Company received ~$55M gross proceeds from the warrant exercise.
- Starboard now holds 61,123,595 shares, or ~61.2% of outstanding common stock.
- Acacia qualifies as a 'Controlled Company' under Nasdaq rules but is not currently relying on exemptions.

## SEC filing metadata
- accession: 0001104659-23-081460
- form_type: 8-K
- ticker: ACTG
- cik: 0000934549
- company_name: ACACIA RESEARCH CORP
- filed_at: 2023-07-17T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 3.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/934549/000110465923081460/0001104659-23-081460-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/934549/000110465923081460/tm2321256d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-081460
- JSON: https://secwatch.observer/filing/0001104659-23-081460.json
- Plain text: https://secwatch.observer/filing/0001104659-23-081460.txt

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