Spherix to Raise $2.6 Million in Private Placement

Published: Nov 09, 2012

BETHESDA, M.D., Nov. 8, 2012 (GLOBE NEWSWIRE) -- Spherix Incorporated (Nasdaq:SPEX) – an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis, and provider of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies – today announced that it has entered into definitive agreements to sell $2.6 million of shares of its common stock together with warrants to purchase additional shares of its common stock in a private placement transaction. The closing of the offering is expected to occur on or about November 9, 2012, subject to customary closing conditions, at which time Spherix will receive the cash proceeds and deliver the securities.

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