secwatch.observer — SEC 8-K summary
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Issuer:     ACACIA RESEARCH CORP (ACTG)
CIK:        0000934549
Form:       8-K
Filed at:   2023-07-17T23:59:59+00:00
Accession:  0001104659-23-081460
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 3.02, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/934549/000110465923081460/0001104659-23-081460-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/934549/000110465923081460/tm2321256d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-081460

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