Nutex Health, a physician-led, technology-enabled integrated healthcare delivery system entered into a $100 million pre-paid advance agreement with Yorkville Advisors Global.
Nutex is comprised of 20 state-of-the-art micro hospitals in eight states and primary care-centric, risk-bearing physician networks.
Under the PPA, the company may request advances of up to $25,000,000, which will be purchased by the investor at 90% of the face amount. Future Pre-Paid Advances will range from $5 million to $25 million depending on stock price and volume conditions being met. If requested by the investor, amounts outstanding under each pre-paid advance will be correspondingly reduced upon the issuance of stock to Yorkville at a price per share equal to the lower of $1 on the initial tranche or 100% of the volume weighted average price (VWAP) of the company’s stock on the trading day immediately preceding the closing of any subsequent PPA or 92% of the average of the two lowest daily VWAP of the shares during the seven trading days immediately prior to each PPA. The purchase price will not be less than 18.51 cents a share (the contractual floor price). Read more.
