Deal sells units of one common share and one warrant via J.P. Turner
By Devika Patel
Knoxville, Tenn., June 12 - Authentidate Holding Corp. said it priced a $4.05 million public offering of units with a $404,501 greenshoe. The deal was announced June 4.
The company will sell 4,257,895 units of one common share and one warrant at $0.95 per unit, with each warrant exercisable at $0.95. The strike price is a 3.06% discount to the June 11 closing share price of $0.98.
J.P. Turner & Co., LLC is the underwriter.
Settlement is expected June 17.
Proceeds will be used for working capital, including the continued roll-out of telehealth products and services, and for general corporate purposes.
Based in Berkley Heights, N.J., Authentidate is a provider of secure workflow management software and web-based services.
| Issuer: | Authentidate Holding Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $4,045,000
|
| Greenshoe: | $404,501
|
| Units: | 4,257,895
|
| Price: | $0.95
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | $0.95
|
| Underwriter: | J.P. Turner & Co., LLC
|
| Announcement date: | June 4
|
| Pricing date: | June 12
|
| Settlement date: | June 17
|
| Stock symbol: | Nasdaq: ADAT
|
| Stock price: | $0.98 at close June 11
|
| Market capitalization: | $28.66 million
|
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