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.
J.P. Turner & Company, LLC, acted as the sole underwriter for the offering.
The securities were sold pursuant to Authentidate's existing shelf registration statement, base prospectus, and a prospectus supplement as filed with the Securities and Exchange Commission (SEC). Copies of the prospectus supplement and accompanying prospectus relating to this offering may be obtained from the Securities and Exchange Commission's website at http://www.sec.gov or by contacting J.P. Turner & Company, LLC, Attention: Jeffrey Johnson, by telephone at (404) 479-8300, or by email at firstname.lastname@example.org.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.