Digital health company UpHealth entered into an agreement with a healthcare-focused institutional investor for the purchase and sale of 3 million shares together with series A warrants and series B warrants at $1.50 each in a private placement of approximately $4.5 million. The A and B warrants will have an exercise price of $2.04 per share and will be initially exercisable beginning six months following the date of issuance. The series A warrants will expire five years from the initial exercise date, and the series B warrants will expire 2 years from the initial exercise date. The closing of the offering is expected to occur by March 13.
A.G.P./Alliance Global Partners is the sole placement agent for the offering.
The UpHealth platform creates digitally enabled “care communities” that improve access and achieve better patient outcomes at lower cost, through digital health solutions and interoperability tools that serve patients wherever they are, in their native language, according to a press release. UpHealth’s clients include global governments, health plans, healthcare providers and community-based organizations. Read more.
