VirnetX calls off share sale to Japanese partner after Apple verdict drives up stock price 24 Oct 17
Back in June, VirnetX Holding Corp announced plans to sell a 10% stake in itself to an obscure Japanese partner billed as a consortium of Japanese corporations and financial institutions. The PIPCO (which trades on the NYSE American exchange) was set to gain $20 million in expansion capital as well as an entrée into a potentially lucrative market for licensing its secure communications technologies and patents. But according to recent SEC filings, the stake in VirnetX will no longer change hands after the company’s favourable US district court verdict against Apple boosted its share price.
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