BERKELEY HEIGHTS, N.J., June 17, 2013 (GLOBE NEWSWIRE) -- Authentidate Holding Corp. (Nasdaq:ADAT), a provider of secure web-based software applications and telehealth products and services for healthcare organizations, today announced the closing of a previously announced underwritten public offering of 4,257,895 shares of its common stock and warrants to purchase 4,257,895 shares of common stock, and the fully exercised over-allotment option to purchase 425,790 additional shares and 425,790 additional warrants. Gross proceeds to Authentidate at closing were approximately $4.45 million. The securities sold in the offering were sold as a unit of one share and a warrant to purchase one share of common stock at a price to the public of $0.95 per unit. The warrants have an exercise price of $0.95 per share and a 5-year term. Net proceeds to Authentidate from the offering are approximately $4.0 million after deducting underwriting discounts and commissions and estimated offering expenses. Authentidate intends to use the proceeds for working capital and general corporate purposes.
Authentidate Holding Corp. Announces Closing Of Public Offering
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