Unwired Planet Announces Final Results of Rights Offering
RENO, Nev. -- September 13, 2013
Unwired Planet, Inc. (NASDAQ: UPIP) today announced the final result of its
previously announced rights offering. Through broad participation, the Company
raised $12.5 million of gross proceeds, including proceeds from a standby
commitment made by Indaba Capital, L.P.
Stockholders subscribed for a total of 5,274,659 shares of the Company’s
common stock pursuant to their basic subscription privileges, representing a
70% participation rate. In addition, a total of 2,481,365 shares of common
stock will be issued to the standby purchaser, which amount includes 225,904
shares of common stock in consideration for providing its standby commitment.
“The participation by our shareholder base underscores the support for Unwired
Planet, has helped strengthen the Company, and allows us to continue to
broaden our licensing efforts,” said Eric Vetter, president and chief
administrative officer of Unwired Planet.
The rights offering was made pursuant to a Registration Statement on Form S-3
that was filed with the Securities and Exchange Commission (SEC) and became
effective on August 14, 2013. For questions about the rights offering, contact
Georgeson, the information agent for the rights offering, at 800-903-2897.
About Unwired Planet
Unwired Planet, Inc.(NASDAQ: UPIP) is the inventor of the Mobile Internet and
a premier intellectual property company focused exclusively on the mobile
industry. The Company's patent portfolio of more than 2,400 issued US and
foreign patents includes the technologies that allow mobile devices to connect
to the Internet and enable mobile communications. The portfolio spans 2G, 3G
and 4G technologies, as well as cloud-based mobile applications and
services.Unwired Planet'sportfolio includes patents related to key mobile
technologies, including baseband mobile communications, mobile browsers,
mobile advertising, push technology, maps and location based services, mobile
application stores, social networking, mobile gaming and mobile
search.Unwired Planetis headquartered in Reno, Nevada.
Safe Harbor for Forward-Looking Statements
This release contains forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. All
statements other than statements of historical fact contained in this release
are forward-looking statements. In some cases, you can identify
forward-looking statements by terminology such as "may," "will," "should,"
"expects," "plans," "anticipates," "believes," "estimates," "predicts,"
"potential" or "continue" or the negative of these terms or other comparable
terminology. These statements are only current predictions and are subject to
known and unknown risks, uncertainties and other factors that may cause the
Company's actual results, levels of activity, performance or achievements to
be materially different from those anticipated by the forward-looking
statements. These forward-looking statements are subject to a number of risks,
including, but not limited to, those risk factors discussed in filings with
theSEC, including but not limited to, the Company's current Annual Report on
Form 10-K and current Quarterly Report on Form 10-Q and any amendments
thereto. The Company undertakes no duty to update or revise any of the
forward-looking statements, whether as a result of new information, future
events or otherwise, after the date of this release.
The Blueshirt Group
Mike Bishop, 415-217-4968
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