UpHealth announces $4.5M private placement

UpHealth "announced that it has entered into a definitive agreement with a single, healthcare-focused institutional investor for the purchase and sale of 3,000,000 shares of the Company’s common stock together with series A warrants to purchase up to 3,000,000 shares of common stock and series B warrants to purchase up to 3,000,000 shares of the Company’s common stock at a purchase price per share of $1.50, pursuant to a private placement, resulting in total gross proceeds of approximately $4.5 million before deducting placement agent commissions and other estimated offering expenses. The series A and series 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 on or about March 13, 2023, subject to the satisfaction of customary closing conditions. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering."