Spherix Prices Public Offering of Common Stock

Spherix, an intellectual property development company, has priced an underwritten public offering of 1,250,000 shares of its common stock at $2 per share, equal to a 25.1% discount relative to the stock’s Tuesday closing price.

Spherix has also granted the underwriter a 45-day option to purchase up to 187,500 additional shares of common stock to cover over-allotments, if any. The offering is expected to close on or about July 24.

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