Streamline Health Solutions (STRM) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Streamline Health Solutions, Inc. has secured a financial boost by selling $4.4 million of unsecured subordinated promissory notes and warrants to purchase over 4 million shares to accredited investors, including company insiders. With notes maturing in August 2026 at a 15% annual interest rate, the company can optionally redeem them early without penalty. The warrants, exercisable immediately at $0.38 per share, will expire four years post-closing, with certain ownership limitations. Additionally, these insiders are restricted from selling their shares for 90 days post-closing. Separately, Streamline also sold 263,158 shares at $0.38 each to another accredited investor. These transactions, conducted privately, are not registered under the Securities Act, limiting their sale within the U.S. without SEC registration or exemption.
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For a comprehensive understanding of the announcement, you can read the full document here.
