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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 185,710 $ 165,546
Restricted cash 930 0
Equity securities at fair value 134,938 109,103
Equity securities without readily determinable fair value 176,010 143,257
Investment securities - equity method investments 31,839 30,673
Investment at fair value 0 2,752
Accounts receivable 12,750 506
Prepaid expenses and other current assets 2,283 5,832
Total current assets 544,460 457,669
Long-term restricted cash 35,422 35,000
Patents, net of accumulated amortization 42,438 16,912
Leased right-of-use assets 759 951
Other non-current assets 4,653 4,988
Total assets 627,732 515,520
Current liabilities:    
Accounts payable 2,625 1,019
Accrued expenses and other current liabilities 4,817 3,707
Accrued compensation 2,382 2,265
Royalties and contingent legal fees payable 6,089 2,162
Accrued patent investment costs 10,000 0
Senior Secured Notes Payable - short-term 145,477 115,663
Total current liabilities 171,390 124,816
Series A warrant liabilities 18,464 6,640
Series A embedded derivative liabilities 41,191 26,728
Series B warrant liabilities 230,539 52,341
Long-term lease liabilities 759 951
Other long-term liabilities 5,591 591
Total liabilities 467,934 212,067
Commitments and contingencies
Series A redeemable convertible preferred stock, par value $0.001 per share; stated value $100 per share; 350,000 shares authorized, issued and outstanding as of June 30, 2021 and December 31, 2020, respectively; aggregate liquidation preference of $35,000 as of June 30, 2021 and December 31, 2020, respectively 12,695 10,924
Stockholders' equity:    
Common stock, par value $0.001 per share; 300,000,000 shares authorized; 49,616,602 and 49,279,453 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively 50 49
Treasury stock, at cost, 4,604,365 shares as of June 30, 2021 and December 31, 2020 (43,270) (43,270)
Additional paid-in capital 650,194 651,416
Accumulated deficit (471,819) (326,708)
Total Acacia Research Corporation stockholders' equity 135,155 281,487
Noncontrolling interests 11,948 11,042
Total stockholders' equity 147,103 292,529
Total liabilities, redeemable convertible preferred stock, and stockholders' equity $ 627,732 $ 515,520