Streamline
Health Solutions, Inc. (NASDAQ: STRM), a leading provider of
knowledge management solutions for healthcare providers, today announced
that it intends to offer 2,500,000 shares of its common stock, par value
$0.01 per share, in an underwritten public offering, subject to market
and other conditions. In addition, Streamline Health intends to grant
the underwriters a 30-day option to purchase up to 375,000 additional
shares of Streamline Health common stock to cover over-allotments, if
any. There can be no assurance as to whether or when the offering may be
completed or as to the actual size or terms of the offering.
Streamline Health intends to use the net proceeds from the offering, if
completed, to finance the proposed acquisition of two separate companies
announced earlier today, and for general corporate purposes, including
the repayment of a portion of Streamline Health’s outstanding debt.
Craig-Hallum Capital Group LLC and First Analysis Securities Corporation
are serving as joint book-running managers for the offering.
The shares are being offered pursuant to an effective shelf registration
statement on Form S-3 that was previously filed with the Securities and
Exchange Commission (SEC). The securities may be offered only by means
of a prospectus supplement and the accompanying prospectus, copies of
which may be obtained from Craig-Hallum Capital Group, 222 South Ninth
Street, Suite 350, Minneapolis, MN 55402, telephone 612-334-6342, email: jack.mccarthy@craig-hallum.com.
These documents will also be filed with the SEC and will be available at
the SEC’s Web site at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful.
About Streamline Health
Streamline
Health Solutions, Inc. (NASDAQ: STRM) is a leading provider of
SaaS-based healthcare information technology (HCIT) solutions for
healthcare providers. The company's comprehensive suite of solutions
includes: enterprise content management (ECM), business analytics,
integrated workflow systems, clinical documentation improvement (CDI),
and computer assisted coding (CAC). This unique combination of solutions
is designed to help healthcare organizations manage the financial and
operational challenges they face in the ever-changing world of
healthcare today and in the future. For more information, please visit
our website at www.streamlinehealth.net.
Safe Harbor statement under the Private
Securities Litigation Reform Act of 1995
Statements made by Streamline Health Solutions, Inc. that are not
historical facts are forward-looking statements that are subject to
risks and uncertainties and are no guarantee of future performance. The
forward looking statements contained herein are subject to certain
risks, uncertainties and important factors that could cause actual
results to differ materially from those reflected in the forward-looking
statements, included herein. These risks and uncertainties include, but
are not limited to, the timing of contract negotiations and execution of
contracts and the related timing of the revenue recognition related
thereto, the potential cancellation of existing contracts or clients not
completing projects included in the backlog, the impact of competitive
products and pricing, product demand and market acceptance, new product
development, the integration of businesses or other assets acquired by
or licensed to the Company with its existing business, key strategic
alliances with vendors that resell the Company’s products, the ability
of the Company to control costs, availability of products obtained from
third party vendors, the healthcare regulatory environment, potential
changes in legislation, regulation and government funding affecting the
healthcare industry, healthcare information systems budgets,
availability of healthcare information systems trained personnel for
implementation of new systems, as well as maintenance of legacy systems,
fluctuations in operating results, effects of critical accounting
policies and judgments, changes in accounting policies or procedures as
may be required by the Financial Accountings Standards Board or other
similar entities, changes in economic, business and market conditions
impacting the healthcare industry, the markets in which the Company
operates and nationally, and the Company’s ability to maintain
compliance with the terms of its credit facilities, and other risks
detailed from time to time in the Streamline Health Solutions, Inc.
filings with the U. S. Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on these forward looking
statements, which reflect management’s analysis only as of the date
hereof. The Company undertakes no obligation to publicly release the
results of any revision to these forward-looking statements, which may
be made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
Copyright Business Wire 2013