Preferred Stock Offering Details: |
Rennova Health, Inc. (NASDAQ: RNVA) today announced the pricing of an underwritten public offering of 12,350 shares of its Series H Convertible Preferred Stock at a per share price to the public of $1,000. The Series H Preferred Stock has a stated value of $1,000 per share with each share convertible into 11,111 shares of common stock, at a conversion price of $0.09 per share. The gross proceeds to Rennova Health, Inc. from this offering are expected to be approximately $12,350,000 before deducting underwriting discounts and commissions and other estimated offering expenses. Approximately $8,300,000 of the net proceeds from this offering will be used to redeem certain outstanding shares of Rennova Health's Series G Convertible Preferred Stock. The offering is expected to close on December 20, 2016, subject to customary closing conditions. |