Hooper Holmes could raise $4 million through rights offering of stock

Investors Cannell Capital and SWK Funding could elect to participate

By Devika Patel

Knoxville, Tenn., Nov. 12 – Hooper Holmes, Inc. will price a rights offering with an oversubscription privilege, according to a Form S-1 filed Thursday with the Securities and Exchange Commission. The company has registered up to $4 million of stock.

Cannell Capital LLC has indicated that it intends to exercise all of its pro rata basic subscription rights. SWK Funding LLC, which holds $5 million of company debt, may elect to participate as well.

Proceeds will be used to drive growth and repay debt.

The Olathe, Kan., company provides health screenings, laboratory testing, risk assessment and sample collection services to individuals as part of health and wellness programs offered through corporate and government employers.

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