Company sells shares to Lambert Private Equity over three-year period
By Devika Patel
Knoxville, Tenn., Oct. 15 - Accelera Innovations, Inc. negotiated a standby equity purchase agreement with Lambert Private Equity LLC on Oct. 4, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The offering will raise between $100 million and $200 million over three years.
The company may sell the shares in tranches of up to $2 million or 285,710 common shares. The purchase price will be equal to 90% of the lowest daily volume weighted average price of the stock during the 15 consecutive trading days following the drawdown notice.
Lambert also received 285,710 shares and 100% warrant coverage as an inducement to enter into the agreement.
The Frankfurt, Ill., health care service company holds technology assets that were licensed to the company by majority shareholder Synergistic Holdings, LLC. The technology, a proprietary internet-based software, Accelera Technology, aims to provide interoperable technology improving the quality of care while reducing cost.
| Issuer: | Accelera Innovations, Inc.
|
| Issue: | Equity distribution agreement, 285,710 common shares
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| Amount: | $200 million (maximum)
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| Tenor: | Three years
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| Price: | 90% of the lowest daily volume weighted average price of the stock during the 15 consecutive trading days following the drawdown notice
|
| Warrants: | 100% coverage
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| Investor: | Lambert Private Equity LLC
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| Settlement date: | Oct. 4
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