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BRIEF-Hooper Holmes and Provant to merge
2017年3月8日 / 上午11点16分 / 8 个月前

BRIEF-Hooper Holmes and Provant to merge

March 8 (Reuters) - Hooper Holmes Inc

* Hooper Holmes and Provant to merge

* Hooper Holmes Inc - Hooper Holmes will issue approximately 10.5 million shares of common stock to Provant’s owners

* Hooper Holmes Inc - merged company will raise $3.5 million in new equity capital

* Hooper Holmes - upon closing, Henry Dubois will serve as CEO of merged company and Heather Provino will serve as chief strategy officer.

* Hooper Holmes Inc - board of directors of merged company will consist of seven members

* Hooper Holmes -financing to support transaction, provide working capital has been arranged from SWK Holdings through a $6.5 million, five year term loan

* Hooper Holmes Inc - company expanded its current asset-based credit facility from $7 million to $10 million with an accordion to $15 million during high-volume months

* Hooper Holmes Inc - at close, merged company is expected to have cash on hand of $2-3 million and $10-12 million in receivables Source text for Eikon: Further company coverage:

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