NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Jan. 9, 2006--Acacia Research Corporation (Nasdaq:ACTG)(Nasdaq:CBMX) announced today that its Board of Directors has approved a plan for its wholly-owned subsidiary, CombiMatrix Corporation, to become an independent public company. Acacia expects to complete the transaction in the second quarter of 2006 subject to receiving a satisfactory tax opinion from legal counsel and completing the required filings with the Securities and Exchange Commission. If the conditions are met, Acacia will redeem all of the issued and outstanding shares of Acacia Research-CombiMatrix common stock (CBMX) for all of the common stock of CombiMatrix Corporation, which will register its stock under the Securities Act of 1934 and plans to list its shares for trading on Nasdaq.
