Finjan Provides Shareholder Update for its Second Quarter of 2017

Finjan Holdings (NASDAQ:FNJN) has announced an update for its shareholders with a financial update for the second quarter and first half ended June 30, 2017.

As quoted in the press release:

Financial Highlights for the Second Quarter of 2017

  • Raised $15.3 million in financing through Series A-1 Preferred Share Offering
  • Raised $13.0 million through public offering of 4.1 million common shares
  • Ended the quarter with $39.9 million in cash or approximately $1.72 per share
  • Redeemed and retired remaining $6.6 million or 39,733 shares of original Series A Preferred Shares
  • Revenues of $2.3 million, a net loss from operations of $2.8 million or $0.12 per share
  • Operating expenses increased to approximately $5 million due to upcoming trials

“During the second quarter we accessed the capital markets during a peak in our momentum by raising more than $28 million. We did this through two separate transactions; a Series A-1 Preferred Financing again through Halcyon and Soryn and a common share offering facilitated by B. Riley,” said Phil Hartstein, President and CEO of Finjan Holdings. “As we enter the second half of 2017, there are a number of significant catalysts ahead including multiple litigation and licensing revenue events and the upcoming launch of VitalSecurity™ Gen4 through our subsidiary Finjan Mobile. Time and again, Finjan’s portfolio has been proven durable through several jury verdicts and dozens of administrative challenges. Given these outcomes, we have deepened our relationship with outside counsel as we take a more decisive stance in enforcing Finjan’s patent rights. With a strong balance sheet we continue to execute our strategic objectives while pursuing opportunities to drive future growth.”

Click here to read the full press release.

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