Series C preferreds sold with five-year warrants for 270,000 shares
By Devika Patel
Knoxville, Tenn., Oct. 20 - HealthWarehouse.com, Inc. concluded a $1 million private placement of series C preferred stock with three investors on Oct. 17, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 10,000 preferreds at $100.00 apiece. The preferreds are not convertible and do not accrue dividends.
Investors also received five-year warrants for 270,000 shares. The warrants are each exercisable at $2.90, which is a 30.95% discount to the Oct. 14 closing share price, $4.20.
Proceeds will be used to prepay principal and accrued interest on the company's $3 million 7% senior secured notes.
HealthWarehouse is a Cincinnati-based retail mail-order pharmacy.
| Issuer: | HealthWarehouse.com, Inc.
|
| Issue: | Series C preferred stock
|
| Amount: | $1 million
|
| Preferreds: | 10,000
|
| Price: | $100.00
|
| Warrants: | For 270,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.90
|
| Settlement date: | Oct. 17
|
| Stock symbol: | Pink Sheets: HEWA
|
| Stock price: | $4.25 at close Oct. 17
|
| Market capitalization: | $47.65 million
|
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