Business
Acacia Research Reports Second Quarter 2021 Financial Results
NEW YORK--(BUSINESS WIRE)-- Acacia Research Corporation (Nasdaq: ACTG) today reported results for the three- and six-month periods ended June 30, 2021.
About this update from Acacia Research Corporation
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nAcacia Research Corporation (Nasdaq: ACTG) today reported results for the three- and six-month periods ended June 30, 2021.\n\nClifford Press, Chief Executive Officer, stated, “Our book value continued to grow in the second quarter of 2021, owing to appreciation in our life science portfolio. Our IP investments over the last year and a half have also begun to deliver growing returns and represent a balanced portfolio across a number of technologies. Acacia remains strategically focused on an opportune part of the capital markets, at the intersection between the private and public market valuations. As a corporate acquirer, we believe that we are an attractive partner to counterparties such as private equity and large enterprises. We have the ability to deploy permanent capital to navigate complex, multi-factor transactions. Our capital base, consisting of cash, public and private investments, and additional available capital pursuant to our partnership with Starboard Value LP, is now $770 million and we continue to evaluate and pursue potential acquisitions of operating businesses.”\n\nAcacia continued to recognize gains during the second quarter in the value of the life sciences portfolio acquired in June 2020, driving $25.8 million in realized and unrealized gains in the quarter. To date, based on the current value of the portfolio, Acacia has recovered $212 million of the purchase price of $282 million. As of June 30, 2021, Acacia holds the following positions in its life sciences portfolio:\n\n\n \nPublic Company Securities (at market value at June 30, 2021) \n\n\n \n\n\n\n \n\n\n \n\n\n \nCompany\nTicker\nNumber of Shares\n \n\nValue\nChange since 3/31\n\n\n \nArix Bioscience plc\n\nLSE: ARIX\n\n\n\n25.8 mm\n\n\n \n\n \n\n\n\n$62.5 mm\n\n\n\n$(5.3) mm\n\n\n\n\n \nInduction Healthcare Group plc\n\nAIM: INHC\n\n\n\n4.2 mm\n\n\n \n\n \n\n\n\n$4.2 mm\n\n\n\n$(2.0) mm\n\n\n\n\n \n\n\n \n\n\n\n \n\n\n \n\n \n\n\n\n \n\n\n\n \n\n\n\n\n \nTotal Public Holdings\n\n \n\n\n\n \n\n\n \n\n \n\n\n\n$66.7 mm\n\n\n\n$(7.2) mm\n\n\n\n\n \n\n\n\n \n\n\n \n\n\n \nPrivate Company Securities (at June 30, 2021) \n\n\n \n\n\n\n \n\n\n \n\n\n \nCompany \nOwnership Percentage \n \n\nGAAP Value\n\n\n\n \nOxford Nanopore Technologies ¹\n\n6%\n\n\n \n\n \n\n\n\n$170.2 mm\n\n\n\n\n\n \nImmunocore 2\n\n4%\n\n\n \n\n \n\n\n\...