Vringo Closes Financing and Acquisition of Nokia Patent Portfolio
Vringo Announces Second Quarter Conference Call
NEW YORK -- August 13, 2012
Vringo, Inc. (NYSE MKT: VRNG), a company engaged in the innovation,
development, and monetization of mobile technologies and intellectual
property, today announced the closing of its previously announced registered
direct offering. Vringo has received approximately gross proceeds of
approximately $31.2 million from the sale of 9.6 million shares of its common
stock in the offering.
As previously announced, Nokia agreed to sell to Vringo a portfolio consisting
of over 500 patents and patent applications worldwide. Vringo anticipates
receiving assignments of most of the patents and patent applications over the
next three months.
Vringo also announced that management will host a conference call to discuss
its financial results for the second quarter of 2012 and subsequent events.
The details are as follows:
Date: Tuesday, August 14, 2012
Time: 5:00 p.m. Eastern (Vringo recommends dialing in ten minutes in advance)
Domestic: (888) 882-8678
International: (706) 645-4500
Replay (available shortly after conclusion): (855) 859-2056
Confirmation Code: 20623594
The sale and issuance of the shares was made pursuant to a prospectus
supplement dated August9, 2012 and an accompanying prospectus dated August2,
2012,pursuant to Vringo's effective "shelf" registration statement on
FormS-3 (File No.333-182823), which was filed with the Securities and
Exchange Commission on July24, 2012 and was declared effective on August2,
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities of Vringo, Inc. nor shall there be any sale
of securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
About Vringo, Inc.
Vringo, Inc. is engaged in the innovation, development and monetization of
mobile technologies and intellectual property. Vringo's intellectual property
portfolio consists of over 500 patents and patent applications covering
telecom infrastructure, internet search, and mobile technologies. The patents
and patent applications have been developed internally, and acquired from
Lycos, Inc. and Nokia Corporation. Vringo operates a global platform for the
distribution of mobile social applications and services including Facetones®
and Video Ringtones which transform the basic act of making and receiving
mobile phone calls into a highly visual, social experience.
This press release includes forward-looking statements, which may be
identified by words such as "believes," "expects," "anticipates," "estimates,"
"projects," "intends," "should," "seeks," "future," "continue," or the
negative of such terms, or other comparable terminology. Forward-looking
statements are statements that are not historical facts. Such forward-looking
statements are subject to risks and uncertainties, which could cause actual
results to differ materially from the forward-looking statements contained
herein. Factors that could cause actual results to differ materially include,
but are not limited to: the inability to realize the potential value created
by the merger with Innovate/Protect for our stockholders; our inability to
raise additional capital to fund our combined operations and business plan;
our inability to monetize and recoup our investment with respect to patent
assets that we acquire; our inability to maintain the listing of our
securities on the NYSE MKT; the potential lack of market acceptance of our
products; our inability to protect our intellectual property rights; potential
competition from other providers and products; our inability to license and
monetize the patents owned by Innovate/Protect, including the outcome of the
litigation against online search firms and other companies; our inability to
monetize and recoup our investment with respect to patent assets that we
acquire; and other risks and uncertainties and other factors discussed from
time to time in our filings with the Securities and Exchange Commission
("SEC"). Investors and stockholders are also urged to read the risk factors
set forth in the definitive proxy statement/prospectus filed with the SEC on
June 21, 2012. Vringo expressly disclaims any obligation to publicly update
any forward-looking statements contained herein, whether as a result of new
information, future events or otherwise, except as required by law.
Cliff Weinstein, 646-532-6777
Executive Vice President
The Hodges Partnership
Caroline L. Platt, 804-788-1414
Press spacebar to pause and continue. Press esc to stop.