By Sheri Kasprzak
Atlanta, May 16 - Healthaxis Inc. said it has wrapped a private placement for $5 million.
The company sold 2,222,222 shares at $2.25 each to Tak Investments Inc.
Tak also received a put/call warrant for 2,222,222 shares at $2.25 each for two years. The company may increase the warrant to 3,333,333 shares under the same terms if needed to fund an acquisition. The investor also received warrants for 25% of the shares originally purchased and 25% of the shares purchased under the put/call warrant at $2.70 each. The investor received another warrant for 25% of the shares purchased originally plus the shares purchased under the put/call warrant, exercisable at $3.15 each for two years.
Following the completion of the private placement, Tak owns 20% of the fully diluted shares and 37% of the outstanding shares of Healthaxis.
Based in Irving, Texas, Healthaxis provides technologies used for business process outsourcing, and claims and administration services for health benefit administrators and health insurance claims processors.
| Issuer: | Healthaxis Inc.
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| Issue: | Stock
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| Amount: | $5 million
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| Shares: | 2,222,222
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| Price: | $2.25
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| Put/call warrant: | For 2,222,222 shares (or 3,333,333 shares if needed)
|
| Warrant expiration: | Two years
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| Warrant strike price: | $2.25
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| Second warrant: | For 25% of shares purchased plus 25% of shares purchased under put/call warrant
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| Warrant expiration: | Two years
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| Warrant strike price: | $2.70
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| Third warrant: | For 25% of shares originally purchased plus the number of shares purchased under put/call warrant
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| Warrant expiration: | Two years
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| Warrant strike price: | $3.15
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| Investor: | Tak Investments Inc.
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| Settlement date: | May 9
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| Stock price: | $2.05 at close May 9
|
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