NEWPORT BEACH, Calif.--(BUSINESS WIRE)--June 15, 2006--Acacia Research Corporation (Nasdaq:CBMX - News; Nasdaq:ACTG - News) announced today that it has executed a standby equity distribution agreement for up to $50 million in common stock equity financing from Cornell Capital Partners, LP (“Cornell”) for its CombiMatrix group. Subject to the terms and conditions of the agreement between Acacia Research Corporation and Cornell, over the next 24 months, Acacia may sell registered shares of its AR-CombiMatrix common stock at its discretion to Cornell at a 2.5% discount from the market price. The shares of common stock are being offered pursuant to an effective registration statement filed with the SEC on April 25, 2006.
