Apollo Medical Holdings amends $1.25 million of its convertible notes

Notes due on Jan. 31, 2016; related warrants will expire July 31, 2016

By Devika Patel

Knoxville, Tenn., Nov. 7 - Apollo Medical Holdings, Inc. amended its $1.25 million of subordinated convertible notes on Oct. 29, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

The company and holders agreed to modify the note's maturity to Jan. 31, 2016 from Jan. 31, 2013.

The term of the related warrants has been extended to July 31, 2016. In addition, the notes' conversion rate will be fixed at $0.11485 per share, which is equivalent to each $100 of notes being convertible into 870.70 shares, and the warrant's exercise price is fixed at $0.11485 per share.

The company also agreed to issue to each noteholder one warrant per $2.50 of notes owned, with each warrant exercisable at $0.45 per share.

The management services provider is based in Glendale, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.