Proceeds used to redeem $2.07 million series A convertible debentures
By Devika Patel
Knoxville, Tenn., Jan. 25 - Nightingale Informatix Corp. said it plans a C$3.5 million private placement of convertible partially secured subordinated debentures. Raymond James Ltd. will conduct the sale on a best-efforts basis.
The three-year debentures will be sold in C$1,000 increments and accrue interest at 10%. It converts to common stock at a conversion price of C$0.60, which is a 185.71% premium to the Jan. 24 closing share price of C$0.21. The debenture may be redeemed after one year.
Proceeds will be used for general corporate purposes and to redeem the remainder of the company's $2.07 million of series A 12% convertible debentures.
Based in Markham, Ont., Nightingale develops software used by health-care providers for patient scheduling, billing, transcription, data management, claims processing and other activities.
Issuer: | Nightingale Informatix Corp.
|
Issue: | Convertible partially secured subordinated debenture
|
Amount: | C$3.5 million
|
Maturity: | Three years
|
Coupon: | 10%
|
Price: | Par of C$1,000
|
Conversion price: | C$0.60
|
Call: | Yes
|
Warrants: | No
|
Agent: | Raymond James Ltd.
|
Pricing date: | Jan. 25
|
Stock symbol: | TSX Venture: NGH
|
Stock price: | C$0.21 at close Jan. 24
|
Market capitalization: | C$15.64 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.