SEC Filing Summary: Marathon Patent Group, Inc. (8-K)
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Marathon Patent Group, Inc. (not MARA Holdings, Inc.) on December 19, 2017, reporting events occurring on December 18, 2017. The company is a Nevada corporation engaged in patent enforcement and licensing.
Key Financial Metrics
The filing details a registered direct offering of common stock. The filing text does not provide revenue, profit, cash flow, margins, or existing debt levels for the reporting period.
- Shares Issued: 1,354,546 shares of common stock ($0.0001 par value).
- Purchase Price: $5.50 per share.
- Expected Net Proceeds: Approximately $7,432,000.
- Use of Proceeds: Working capital and general corporate purposes.
- Underwriting: No underwriter or placement agent was engaged.
Material Changes
The primary material change is the entry into securities purchase agreements for the issuance of new equity. The offering is expected to close on or before December 21, 2017. This transaction increases the company's share count and cash liquidity.
Outlook, Risks, and Management Commentary
Management intends to utilize the net proceeds for working capital and general corporate purposes. The offering was conducted pursuant to a previously effective Registration Statement on Form S-3 (File No. 333-198569). The filing includes an opinion of counsel regarding the validity of the issuance. No specific forward-looking guidance or risk factors beyond standard offering terms are detailed in this specific 8-K text.
Investor Verification Checklist
- Verify the closing date of the offering (expected on or before December 21, 2017).
- Confirm the final number of shares issued and total net proceeds received.
- Review the full Securities Purchase Agreement (Exhibit 10.1) for specific investor rights or restrictions.
- Check subsequent filings for the actual impact on the company's cash position and share count.