Nightingale amends terms, extends maturity of 12% and 10% debentures

By Wendy Van Sickle

Columbus, Ohio, March 14 – Nightingale Informatix Corp. amended the terms of its series B 12% unsecured subordinated convertible debentures and its series C 10% secured convertible debentures, according to a press release.

The amendments to the series B debentures include extending their maturity to Sept. 30, 2016 and reducing the interest rate to 8% from 12%. The debentures will also no longer be convertible at the option of the holder. The company retains the right to redeem them at any time.

The series C debentures amendments also include extending their maturity to Sept. 30, 2016. Series C holders will be entitled to be paid an additional 2% in the event the principal and accrued interest are not repaid by the company prior to the new maturity date. The amendments to the series C debentures have been approved by the requisite majority of holders under the terms of the trust indenture with Equity Trust Financial Co., as trustee.

The series B debentures were issued Sept. 12, 2012. The series C debentures were issued March 12, 2013.

The amendments are subject to the approval of the TSX Venture Exchange.

Based in Markham, Ont., Nightingale develops software used by health-care providers for patient scheduling, billing, transcription, data management, claims processing and other activities.

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