Vringo (VRNG) -12.4% to $4.60 after taking advantage of the huge run-up seen over the last two...

|By:, SA News Editor

Vringo (VRNG) -12.4% to $4.60 after taking advantage of the huge run-up seen over the last two days to announce a 10.3M-share stock offering at a price of $4.35. The offering will take place on Oct. 9, the same day Vringo enters court-ordered settlement talks with Google. The IP holder claims the sale, which will yield gross proceeds of $45M, will leave it in a "position of strength" as the talks commence. (prior offering)