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Stock Market & Financial Investment News

News Breaks
September 28, 2012
09:05 EDTADATAuthentidate Holding announces New Loan Financing of $3.3M
Authentidate Holding announced that it has completed a $3.3M secured loan financing with certain accredited investors. In connection with the financing the company sold approximately $3.3M of senior secured promissory notes and 2,558,139 warrants to the investors. The notes are not convertible into equity securities and no interest is due on the notes. The notes are due and payable on the earlier of Oct. 31, 2013 or the completion of a subsequent financing as defined in the investor agreements. The warrants are exercisable for 54 months commencing six months from the issue date at an exercise price of $1.34 per share.
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September 4, 2015
09:50 EDTADATAuthentidate announces partnership with AEON Clinical Laboratory
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August 25, 2015
06:53 EDTADATAuthentidate, AEON Clinical Laboratories enter non-binding LOI to merge
Authentidate Holding and Peachstate Health Management, LLC d/b/a AEON Clinical Laboratories, an expanding clinical laboratory based in Gainesville, GA, announced that the companies have entered into a non-binding letter of intent, or LOI, for the acquisition of all of the outstanding membership interests of AEON in exchange for shares of a newly created class of Series E Preferred Stock of Authentidate. The Letter of Intent contemplates the AEON members will be issued such number of Series E Shares as shall be convertible into 19.9% of the outstanding shares of the company's Common Stock on the date of the closing of the merger transaction, and an additional 5% of the outstanding shares of the company's Common Stock upon approval of the merger transaction by the shareholders of the company. Additional Series E Shares will be issued to AEON members in 2016 and 2020 if AEON achieves certain financial results. The additional 2016 Series E Shares will be convertible into 24% of the outstanding shares of the company's Common Stock on the date of the closing and will be issued to the AEON members provided AEON achieves $16M of EBITDA in calendar year 2015. The AEON members will be issued another tranche of Series E Shares in 2020 which, including the previously issued Series E Shares, will be convertible into 85% of the outstanding shares of the company's Common Stock provided AEON achieves $65.9M in EBITDA, in the aggregate, in calendar years 2017 and 2018, or $99M in EBITDA, in the aggregate, for calendar years 2016, 2017 and 2018. The Letter of Intent also provides for the issuance of Series E Shares as bonus shares for the achievement of $117 million in net income for the four fiscal years ending December 31, 2019, convertible into 5% of the outstanding shares of the company's Common Stock. The holders of the Series E Shares will have certain preferential rights, including the right to vote separately as a class to nominate and elect one director for each 10% of the outstanding shares of Authentidate's Common Stock into which the outstanding Series E Shares shall be convertible.

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