CUPERTINO, CA--(Marketwired - Jan 28, 2014) - Inventergy Inc., an intellectual property acquisition and licensing company, announced today that they have successfully closed for the full amount of an expanded $7.25 million private placement of its common stock.
Laidlaw & Company (UK) Ltd. acted as the lead placement agent. Due to market demand, the offering was increased by approximately 80% from its original target.
Joe Beyers, Chairman and CEO of Inventergy, stated, "Inventergy is extremely pleased to announce this expanded $7.25 million capital raise which will help us broaden licensing efforts, acquire potential new patent portfolios and drive shareholder value. I believe that this infusion of capital coupled with our unique approach to patent monetization will provide us with a strong competitive advantage within the IP industry."
Mr. James Ahern, Managing Partner and Head of Capital Markets at Laidlaw & Company (UK), stated, "Laidlaw is pleased to close on the expanded offering and provide additional capital for Inventergy's innovative business. These funds bolster its financial strength, supporting Inventergy's execution of its long-term growth plans. We are proud to have partnered with a world-class management team and look forward to driving additional value as a financial partner."
About Inventergy Inc.
Inventergy Inc. is an intellectual property company dedicated to identifying, acquiring and licensing the patented technologies of market-significant technology leaders. Led by IP industry pioneer and veteran Joe Beyers, former head of IP and global strategy at Hewlett-Packard, the company leverages decades of experience, market and technology expertise, and industry connections to assist Fortune 500 companies in leveraging the value of their innovations to achieve greater returns. Inventergy aspires to enable a new world of IP value creation built upon a more transparent, above-board and ethical business platform. Inventergy's current portfolio now contains over 660 patent assets (including patents related to industry standards), from two Fortune Global 500 and Gartner-recognized technology leaders in the telecommunications industry. For more information about Inventergy, visit www.inventergy.com.
About Laidlaw & Co. (UK) Ltd.
Laidlaw & Company (UK) Ltd, founded in 1842, is a relationship driven international investment bank, providing wealth management services, capital raising, mergers & acquisitions advisory, research and corporate access to clients on a global level. Headquartered in New York City and United Kingdom, Laidlaw maintains eight offices across the United States and London, England with over 150 employees firm wide. Laidlaw also offers personalized investment advice and skillful execution to private and public institutions, as well as high net worth individual investors. The firm is a FINRA, MSRB and SIPC registered company.
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Director, Investor Relations