CareView converts $26.2M of debt into 262M shares at $0.10 per share

CareView Communications Inc

Converted $26.2M aggregate principal of Replacement Notes into 262M shares of common stock at $0.10/share.
HealthCor Partners to convert remaining 50% of its Replacement Notes after shareholder approval to increase authorized shares from 500M to 800M.
Issued shares bear lockup restriction expiring December 31, 2023; sold via private placement under Section 4(a)(2) and Rule 506.
Conversion extinguishes the Replacement Notes and terminates related transaction documents; investors release claims against the company.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

CareView Communications Inc entered into Replacement Note Conversion Agreement with Investors valued at Conversion of $26,200,000 of Replacement Notes into 262,000,000 shares of common stock at $0.10 per (effective 2023-03-30).

Action: entry
Counterparty: Investors
Value: Conversion of $26,200,000 of Replacement Notes into 262,000,000 shares of common stock at $0.10 per
Effective: 2023-03-30

Exact text from the filing

On March 30, 2023, noteholders owning an aggregate of $26,200,000 Replacement Notes, entered into a Replacement Note Conversion Agreement, wherein the Replacement Notes were converted into shares of the Company’s common stock at a conversion price of $0.10 per share, resulting in the issuance of an aggregate of 262,000,000 shares (the “Conversion Shares”).

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CareView Communications Inc filing history →

Source: SEC EDGAR

accession 0001387131-23-004290

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