7:30am/Pt Update YES THIS KILLS ITS PPS RIGHT NOW:
BAD NEWS
• Vringo also said it reached agreements to sell 9.6 million of its shares in a direct offering for $3.25 each to fund the patent deal and for other purposes. Vringo anticipates proceeds of roughly $31.2 million.
GOOD NEWS
• The new portfolio, which includes patent applications, will be used to start a new licensing and litigation campaign. The portfolio includes about 109 U.S. patents.
The portfolio includes a broad range of technologies relating to cellular infrastructure--including third-generation and fourth-generation wireless technology. A majority of patents were granted in late 1990s and early 2000s and the average lifespan of each patent is about 6.7 years.
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The street seems to like it, VRNG is up earlier along with NOK, more income$ will be coming in for Vringo for sure with this deals, but earning is coming on Monday this will holding this stock from going any higher short term.
Hang in there, so much $$ is coming in, I was outside looking to get back in right now because MM or whomever hooked me out yesterday @my stop limit$3.50 (lots of buying opportunity right now, my eyes is closely watching VRNG,FB, ZNGA, and mainly BA lots of $$ with this one because I work there).
Good luck to you.
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