Following its sale of 3.9 million shares in the IPO, Acacia retains a 4.4% stake in Oxford Nanopore on commencement of unconditional dealing in the shares on the Main Market

Acacia Research Corporation (Nasdaq: ACTG) (“Acacia”) today announced that Oxford Nanopore Technologies Limited (“Oxford Nanopore”), the company behind a new generation of nanopore-based sensing technology, whose products enable the real-time, high-performance, scalable analysis of DNA and RNA, has successfully completed its Initial Public Offering of shares on the London Stock Exchange at 425 pence per share.

The sale of 3,895,500 shares in the IPO, representing 10% of its pre-IPO holding, will generate net proceeds of $22.3 million to Acacia. Prior to the IPO, Acacia owned 38,955,000 shares, representing a 5.5% stake in Oxford Nanopore, which, as of June 30, 2021, Acacia valued at $170.2 million. Following the IPO, Acacia will hold 35,059,500 million shares in Oxford Nanopore, representing approximately 4.4% of the shares outstanding. Acacia’s remaining stake in Oxford Nanopore, based on Oxford Nanopore’s closing price as of October 4, amounts to $280.8 million which, when combined with the proceeds of the share sale, amounts to an approximate 78% uplift to the last disclosed book value of the holding as of June 30, 2021. Acacia's remaining shares in Oxford Nanopore are restricted from resale for a period of at least 180 days under customary lock-up agreements.

Clifford Press, Acacia’s President and Chief Executive Officer, commented, “Oxford Nanopore is a global leader in an emerging industry and the crown jewel of the Woodford Portfolio, which we purchased in June last year. The successful IPO is among the largest in London this year and reflects the many years of foresight and collaboration with which Neil Woodford and his team supported and financed the development of this company from its earliest stage. The recently announced strategic investment by Oracle is a further testament to the innovation and leadership of Oxford Nanopore, and we are pleased to be significant shareholders.”

About Acacia Research Corporation

Acacia Research (NASDAQ: ACTG) seeks to acquire undervalued businesses and pursues opportunities for value creation. We leverage our (i) access to flexible capital that can be deployed unconditionally, (ii) expertise in corporate governance and operational restructuring, (iii) willingness to invest in out of favor industries and businesses that suffer from a complexity discount and untangle complex, multi-factor situations, and (iv) expertise and relationships in certain sectors, to complete strategic acquisitions of businesses, divisions, and/or assets with a focus on mature technology, healthcare, industrial and certain financial segments. We seek to identify opportunities where we believe we are advantaged buyers, where we can avoid structured sale processes and create the opportunity to purchase businesses, divisions and/or assets of companies at an attractive price due to our unique capabilities, relationships, or expertise, or where we believe the target would be worth more to us than to other buyers. Information about Acacia Research Corporation and its subsidiaries is available at www.acaciaresearch.com.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Such forward-looking statements may turn out materially and adversely differently from those expressed in this news release as a result of various factors and uncertainties, including the future value of Acacia’s investment in Oxford Nanopore, as well as the impact of Oracle’s recent investment in Oxford Nanopore. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

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