Barnes & Noble Education announced on Tuesday a complicated plan to raise new capital to keep the company going. The unlikely new lead investor is Immersion Corporation, a publicly-listed “developer and licensor of touch feedback technology, also known as haptic technology,” which “has been accused of being a patent troll.” Immersion has a market cap of about $225 million. Immersion “leads” an investor group that will put $50 million of new capital into BNED along with a $45 million “fully backstopped equity rights offering.” About $20 million of that new money will go to transaction costs, leaving BNED with $75 […]
