Uphealth Announces Closing Of $67.5 Million Convertible Debt Financing
08/19/22, 10:34 PM
Location
delray beachMoney raised
$67.5 million
Industry
health care
UpHealth, Inc. ("UpHealth" or the "Company") (NYSE: UPH), a global digital health company delivering technology platforms, infrastructure, and services to modernize care delivery and health management, announced today that it has closed its previously announced sale of $67.5 million in aggregate principal amount of a new series of variable rate convertible senior secured notes due December 15, 2025 (the "2025 Notes") in a private placement transaction. The transaction raised approximately $22.5 million in gross cash proceeds after paying for a repurchase of $45.0 million principal amount of its 6.25% convertible senior notes due 2026. The 2025 Notes are convertible into shares of UpHealth common stock at a conversion price of $1.75 per share, which represented a 101% premium over the closing price of UpHealth's common stock on August 12, 2022, the date the subscription agreements providing for the sale of the 2025 Notes were executed.
Company Info
Location
delray beach, florida, united states
Additional Info
UpHealth is a global digital health company that offers technology platforms, infrastructure, and services to dramatically improve the delivery and management of healthcare. UpHealth’s technology platform helps its clients improve access, coordinate care teams and achieve better patient outcomes at lower cost, with care management solutions, analytics and telehealth tools that serve patients wherever they are, in their native language. UpHealth’s technology-enabled virtual care infrastructure and services improve access to quality primary care, acute care, and behavioral health services. UpHealth’s clients include health plans, global governments, healthcare providers and community-based organizations.