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Stock Market & Financial Investment News

News Breaks
November 12, 2012
09:08 EDTADATAuthentidate Inscrybe referral management solution selected by NBN Group
Authentidate Holding announced that NBN Group has chosen Authentidate's Inscrybe Referral Management solution to help improve the efficiency of its care order processing, reduce processing time and improve communications with physicians. NBN will use the Inscrybe web-based application to securely process care orders from referring physicians electronically -- care plans, physician orders, and other orders. Inscrybe also provides electronic signing capabilities to those physicians using the secure online web application to approve care orders. NBN has also contracted to interface Inscrybe with their CPR+ billing system to transfer medical and billing information electronically between the two applications.
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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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