Acacia (ACRI)--a stock for the future Message Board

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Biotech / Medical : Acacia (ACRI)--a stock for the future

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To: Paul Lee who started this subject	12/11/2002 6:16:37 PM
From: Paul Lee	of 1135

Acacia Research Stockholders Approve Recapitalization Proposal NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Dec. 11, 2002--Acacia Research Corporation (Nasdaq:ACRI) announced today that at a special meeting held today its stockholders voted in favor of a recapitalization proposal to create two new classes of common stock and to divide its existing common stock into shares of the new classes of common stock. The recapitalization is expected to become effective at the start of business on December 13, 2002 when Acacia Research will issue the two new classes of common stock -- new "Acacia Research -- CombiMatrix" stock, which is intended to reflect the performance of its subsidiary, CombiMatrix Corporation, and new "Acacia Research -- Acacia Technologies" stock, which is intended to reflect the performance of Acacia Research's media technology businesses. The "Acacia Research -- CombiMatrix" stock and the "Acacia Research -- Acacia Technologies" stock are both classes of common stock of Acacia Research and are not stock issued by the respective groups. Both securities have been approved for listing on the Nasdaq Stock Market and separate trading in the new securities is expected to commence on December 16, 2002. The "Acacia Research -- CombiMatrix" stock will trade under the symbol "CBMX" and the "Acacia Research -- Acacia Technologies" stock will trade under the symbol "ACTG." Acacia Research stockholders will receive 0.5582 of a share of CombiMatrix stock, and one share of Acacia Technologies stock, for each share of common stock that they own. Acacia Research stockholders and CombiMatrix stockholders also voted in favor of a merger proposal pursuant to which Acacia Research will acquire all the shares of CombiMatrix Corporation that it does not already own. The acquisition will be accomplished through a merger in which stockholders of CombiMatrix Corporation other than Acacia Research will receive one share of the new Acacia Research -- CombiMatrix stock in exchange for each share of CombiMatrix Corporation common stock that they own. The merger is also expected to become effective at the start of business on December 13, 2002. Stockholders also approved related proposals to adopt two new stock incentive plans.

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