2023-03-09 10:11:30 ET
- UpHealth ( NYSE: UPH ) said Thursday it entered into agreement with a single, healthcare-focused institutional investor for the purchase and sale of 3 million shares of the company’s common stock at $1.50 per share.
- Total gross proceeds from the private placement is expected to be $4.5 million.
- The institutional investor will also purchase series A warrants to buy up to 3 million shares of common stock of the company and series B warrants to buy up to 3 million shares.
- The accompanying series A and series B warrants will be priced at will have an exercise price of $2.04 per share and will be initially exercisable beginning six months following the date of issuance.
- The series A warrants will expire five years from the initial exercise date, and the series B warrants will expire 2 years from the initial exercise date.
- The closing of the offering is expected to occur on or about March 13, 2023.
- A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
- Press Release .
- Shares -9.6% at $1.85.
For further details see:
UpHealth launches private placement to raise $4.5M, stock down 9%