NetworkNewsBreaks – NextPlat Corp. (NASDAQ: NXPL
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Posted On: 05/11/2023 3:50:02 PM
NetworkNewsBreaks – NextPlat Corp. (NASDAQ: NXPL) Invests Additional $1M in Progressive Care Inc. (RXMD)
NextPlat (NASDAQ: NXPL, NXPLW), a global e-commerce provider, today announced that it has completed an additional $1 million investment in Progressive Care (OTCQB: RXMD), a personalized healthcare services and technology company. In connection with the $1 million investment, NextPlat purchased 455,000 newly issued units of Progressive Care, with each comprised of one share of Progressive Care’s common stock and one warrant to purchase a share of common stock at a per unit purchase price of $2.20. In addition, NextPlat executives Charles Fernandez and Rodney Barreto, as well as certain other Progressive Care convertible note holders, agreed to convert the approximately $2.9 million of outstanding principal and accrued and unpaid interest under the note to shares of Progressive Care’s common stock at a conversion price of $2.20 per share. Dawson James Securities Inc. served as an advisor for the transaction. ArentFox Schiff LLP, Washington, D.C., acted as counsel to the company, and Lucosky Brookman, New York, NY, served as counsel to Progressive Care.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NextPlat (NASDAQ: NXPL, NXPLW), a global e-commerce provider, today announced that it has completed an additional $1 million investment in Progressive Care (OTCQB: RXMD), a personalized healthcare services and technology company. In connection with the $1 million investment, NextPlat purchased 455,000 newly issued units of Progressive Care, with each comprised of one share of Progressive Care’s common stock and one warrant to purchase a share of common stock at a per unit purchase price of $2.20. In addition, NextPlat executives Charles Fernandez and Rodney Barreto, as well as certain other Progressive Care convertible note holders, agreed to convert the approximately $2.9 million of outstanding principal and accrued and unpaid interest under the note to shares of Progressive Care’s common stock at a conversion price of $2.20 per share. Dawson James Securities Inc. served as an advisor for the transaction. ArentFox Schiff LLP, Washington, D.C., acted as counsel to the company, and Lucosky Brookman, New York, NY, served as counsel to Progressive Care.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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