Rennova Health, Inc. Announces Closing of Public Offering of Securities
July 19 2016 - 4:05PM
Business Wire
Rennova Health, Inc. (NASDAQ:RNVA) (NASDAQ:RNVAZ) today
announced the closing of an underwritten public offering with total
gross proceeds of approximately $8,600,000 before deducting
underwriting discounts and commissions and other offering expenses
payable by the Company, including a partial exercise of the
underwriters’ overallotment option. The securities offered by the
Company consist of Class A Units, with each Class A Unit consisting
of one share of the Company's common stock and one immediately
exercisable five-year warrant to purchase one share of common stock
with a warrant exercise price of $0.45. The Class A Units were
priced at $0.45. The underwriters have been granted a 45-day option
to purchase up to an aggregate of an additional 15% of the
securities sold in the offering to cover over-allotments. Rennova
Health’s common stock and warrants are listed on the NASDAQ Capital
Market under the symbol “RNVA” and “RNVAZ,” respectively.
Joseph Gunnar & Co., LLC acted as the sole book-running
manager for the offering.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission (the “SEC”) and
was declared effective on July 13, 2016. This offering is being
made only by means of a prospectus describing the terms of the
offering filed with the SEC which is available on the SEC’s website
located at http://www.sec.gov. Copies of the prospectus relating to
this offering may be obtained from Joseph Gunnar & Co., LLC.,
Prospectus Department, Thirty Broad Street, 11th Floor, New York,
New York, 10004, telephone: 212-440-9600 or email:
prospectus@jgunnar.com.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Rennova Health
Rennova Health, Inc. owns and operates five diagnostics
laboratories across the United States that provide clinical testing
services specializing in toxicology testing for pain management
clinics, drug and alcohol rehabilitation facilities and
neurotransmitter testing. It offers its customers a complete,
turnkey software product including: a proprietary laboratory
ordering and reporting application, an advanced laboratory
information management system, electronic health records, and an
industry-leading platform for interpreting and reporting complex
test results to physicians. Rennova's software is differentiated
from that of its competitors by the breadth of its services, each
of which is branded separately and is made available to physician
groups in whole or in part. The software permits efficient and easy
ordering and reporting, electronic health records integration,
medical billing services and compliance, and diagnostic
interpretation. For more information see www.rennovahealth.com.
Rennova Health Safe Harbor Statement
This press release includes forward-looking statements about
Rennova Health’s anticipated results that involve risks and
uncertainties. These statements are subject to significant risks
and uncertainties, actual results could differ materially from
those projected and Rennova Health cautions investors not to place
undue reliance on the forward-looking statements contained in this
release. Risks and uncertainties relating to Rennova Health and
this offering can be found in the “Risk Factors” section of the
prospectus related to such proposed offering filed with the SEC.
Rennova Health undertakes no obligation to update or revise any
such forward-looking statements to reflect subsequent events or
circumstances, except as may be required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20160719006507/en/
Rennova HealthSebastien Sainsbury,
561-666-9818ssainsbury@rennovahealth.comorInvestorsLHAKim
Golodetz, 212-838-3777Kgolodetz@lhai.comorBruce Voss,
310-691-7100Bvoss@lhai.com
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