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Spherix Announces the Closing of Private Placement of $2,235,000
Date:11/7/2013

TYSONS CORNER, Va., Nov 7, 2013 /PRNewswire/ -- Spherix Incorporated (NASDAQ: SPEX) -- an intellectual property development company committed to the fostering and monetization of intellectual property, announced today that the Company has closed the previously announced private placement with five accredited investors for gross proceeds to the Company of $2,235,000.  The average price per share in this transaction was $6.34.

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CEO Anthony Hayes stated, "The aforementioned closing of the private placement allows Spherix to be opportunistic when patent portfolios that our team identifies as complementary to our existing IP become available.  Our team of professionals continues to identify infringements of our intellectual property of patents that touch in such high use areas as WiFi, Cellular Communication and Antenna technology."

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of Spherix or shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The shares offered in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States without being registered with the Securities and Exchange Commission (SEC) or through an applicable exemption from SEC registration requirements. The shares of common stock were offered only to accredited investors. The Company has agreed to file a registration statement with the SEC covering the common stock purchas
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