Investors Cannell Capital and SWK Funding could elect to participate
By Devika Patel
Knoxville, Tenn., Dec. 14 – Hooper Holmes, Inc. priced its $4 million rights offering, according to an S-1/A filed Monday with the Securities and Exchange Commission. The deal was announced Nov. 12 and has an oversubscription privilege.
The company will offer rights for 44,444,444 common shares at $0.09 per share, which is identical to the Dec. 11 closing share price. Investors will receive rights to purchase one common share for every share held as of Dec. 23, the record date.
Broadridge Financial Solutions, Inc. is the agent.
The offering will expire on Jan. 18.
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.
| Issuer: | Hooper Holmes, Inc.
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| Issue: | Common stock
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| Amount: | $4 million
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| Shares: | 44,444,444
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| Price: | $0.09
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| Warrants: | No
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| Agent: | Broadridge Financial Solutions, Inc.
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| Announcement date: | Nov. 12
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| Record date: | Dec. 24
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| Pricing date: | Dec. 14
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| Expiration date: | Jan. 18
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| Stock symbol: | NYSE: HH
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| Stock price: | $0.09 at close Dec. 11
|
| Market capitalization: | $6.24 million
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