Proceeds from non-brokered deal used for general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 21 - Nightingale Informatix Corp. said it plans a C$3 million non-brokered private placement of 12% unsecured convertible notes and common stock.
The C$2.5 million note will be bought by Brian Schachter and is due in 90 days. It converts to common stock at a conversion price of C$0.25, which is a 7.41% discount to the Nov. 20 closing share price of C$0.27.
The company is selling 2 million common shares at C$0.25 apiece, which is also a 7.41% discount to the Nov. 20 closing price.
Proceeds will be used for general corporate purposes.
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: | Unsecured convertible notes
|
| Amount: | C$3 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 21
|
| Stock symbol: | TSX Venture: NGH
|
| Stock price: | C$0.27 at close Nov. 20
|
| Market capitalization: | C$20.6 million
|
|
|
| Notes
|
| Amount: | C$2.5 million
|
| Maturity: | 90 days
|
| Coupon: | 12%
|
| Conversion price: | C$0.25
|
| Investor: | Brian Schachter
|
|
|
| Shares
|
| Amount: | C$500,000
|
| Shares: | 2 million
|
| Price: | C$0.25
|
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