Company offers 8,333,333 shares at $1.20 each to fund Vicis agreement
By Devika Patel
Knoxville, Tenn., March 18 - OptimizeRx Corp. settled a $10 million private placement of stock on March 17, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 8,333,333 common shares at $1.20 apiece. The per-share price represents a 22.58% discount to the March 14 closing share price of $1.55.
Proceeds were used to exercise the company's Securities Redemption Option Agreement with Vicis Capital Master Fund.
Based in Rochester, Mich., OptimizeRx provides platforms to help patients better afford and comply to their medicines and health-care products, while offering pharmaceutical and health-care companies ways to expand patient awareness, access and adherence to their brands.
| Issuer: | OptimizeRx Corp.
|
| Issue: | Common stock
|
| Amount: | $10 million
|
| Shares: | 8,333,333
|
| Price: | $1.20
|
| Warrants: | No
|
| Settlement date: | March 17
|
| Stock symbol: | OTCBB: OPRX
|
| Stock price: | $1.55 at close March 14
|
| Market capitalization: | $24.34 million
|
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