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Spherix Announces the Closing of $6.3 Million Registered Direct Offering
Date:11/19/2009

BETHESDA, Md., Nov. 19 /PRNewswire-FirstCall/ -- Spherix Incorporated (Nasdaq: SPEX), an innovator in biotechnology for diabetes therapy, and a provider of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, announced today it closed the previously reported $6.3 million registered direct placement to institutional investors of 2,760,870 shares of its common stock and warrants to purchase up to 1,104,348 additional shares of its common stock. Each unit, consisting of one share of common stock and a warrant to purchase 0.40 of a share of common stock, was sold for a purchase price of $2.30 per unit. The warrants have an exercise price of $3.25 per share and are exercisable at any time after the closing of the transaction and before the 5th anniversary of such initial issuance date. Net proceeds, after deducting placement agent fees and other offering expenses, will be approximately $6 million.

The shares and warrants were offered by the Company pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission and declared effective on October 1, 2009.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The shares of common stock and warrants may only be offered by means of a prospectus. Copies of the final prospectus supplement and accompanying base prospectus can be obtained from the SEC's website at http://www.sec.gov.

Rodman & Renshaw, LLC, a wholly owned
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