By Devika Patel
Knoxville, Tenn., Oct. 19 - Apollo Medical Holdings Inc. raised $1.25 million from a private placement of units on Oct. 16, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 50 units of one $25,000 10% senior subordinated callable promissory note and a five-year warrant for 25,000 common shares.
The notes mature on Jan. 31, 2013 and bear interest at 10% per year. They are convertible into common stock at $0.125 per share.
The warrants are exercisable at $0.125 until Oct. 31, 2014.
Syndicated Capital, Inc. was the agent.
Proceeds will be used for general corporate purposes.
The management services provider is based in Glendale, Calif.
| Issuer: | Apollo Medical Holdings Inc.
|
| Issue: | Units of one $25,000 10% senior subordinated callable promissory note and a warrant for 25,000 common shares
|
| Amount: | $1.25 million
|
| Units: | 50
|
| Price: | $25,000
|
| Warrants: | One warrant for 25,000 shares per unit
|
| Warrant expiration: | Oct. 31, 2014
|
| Warrant strike price: | $0.125
|
| Agent: | Syndicated Capital, Inc.
|
| Settlement date: | Oct. 16
|
| Stock symbol: | OTCBB: AMEH
|
| Stock price: | $0.07 at close Oct. 16
|
| Market capitalization: | $1.83 million
|
|
|
| Notes
|
| Maturity: | Jan. 31, 2013
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | $0.125
|
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