Forian Inc enters into a securities purchase agreement with a select group of institutional and accredited investors to raise gross proceeds of $12M proactiveinvestors.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.com Daily Mail and Mail on Sunday newspapers.
Forian Inc.
(Nasdaq:FORA), a provider of software and technology-enabled services for the healthcare and cannabis industries, announced today that it has entered into a securities purchase agreement with a select group of institutional and accredited investors to raise gross proceeds of $12,000,000 resulting from the sale of 1,191,743 shares of its common stock at an average purchase price equal to $10.21 per share. The Company did not engage a placement agent in connection with the private investment in public equity ( PIPE ) financing.
Investors include both unaffiliated investors as well as directors of the Company. An independent Special Committee of Forian s Board of Directors was established to review and negotiate the transaction on behalf of the Company. An institutional investor led the negotiations for the unaffiliated investors. Directors purchased 560,461 shares of common stock at a purchase price of $11.33 per share, which amount represents the consolidated closing
Forian Inc Announces $12 Million Private Placement of Common Stock yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.