Company issues one-year note to 1604697 Ontario in non-brokered deal
By Cristal Cody
Tupelo, Miss., Aug. 19 – Nightingale Informatix Corp. announced on Tuesday that it sold a C$1.5 million 11% secured note in a non-brokered private placement offering to lender 1604697 Ontario Inc., a company controlled by a party related to a director of Nightingale Informatix.
The note will become payable on the earliest date of either Aug. 18, 2015, the date that Nightingale enters into a loan agreement with either the lender or a thirty party for a minimum amount of C$1.5 million or the date the company completes an equity financing that results in net proceeds of at least C$1.5 million.
The note is secured by all of the company’s present and subsequently acquired property and assets and will be subordinated to certain defined senior debt.
In connection with the private placement, 1604697 Ontario has received a C$45,000 commitment fee.
Nightingale Informatix plans to use the proceeds from the note offering for general corporate purposes.
The Markham, Ont.-based company provides cloud-based electronic health record practice management solutions to healthcare organizations in the United States and Canada.
| Issuer: | Nightingale Informatix Corp.
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| Guarantor: | Nightingale Informatix Corp.’s present and subsequently acquired property and assets
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| Amount: | C$1.5 million
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| Maturity: | Aug. 18, 2015
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| Securities: | Secured note
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| Bookrunner: | None
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| Coupon: | 11%
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| Settlement date: | Aug. 19
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| Ratings: | Non-rated
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| Distribution: | Canada private placement
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