Authentidate Holding announces New Loan Financing of $3.3M

theflyonthewall.com

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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