Spherix Incorporated (NasdaqCM:SPEX) acquired 101 patents from Rockstar Consortium US LP for $60 million on December 31, 2013. Under the terms of the agreement, Spherix issued 0.19 million shares of common stock, 0.45 million shares of Series H Convertible Preferred Stock and 0.11 million shares of Series I Convertible Redeemable Preferred Stock. Additionally, Rockstar is entitled to a participation in future recoveries under the Rockstar Patents after Spherix receives 100% return on the value of the issued securities.

Spherix Incorporated (NasdaqCM:SPEX) completed the acquisition of 101 patents from Rockstar Consortium US LP on December 31, 2013.