---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-029722"
form_type: "8-K"
ticker: null
cik: "0001008586"
company_name: "STREAMLINE HEALTH SOLUTIONS INC."
filed_at: "2022-10-27T23:59:59+00:00"
generated_at: "2026-06-22T23:11:47.618514+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Streamline Health raises $8.3M in direct offering, consolidates businesses, appoints new president

## Summary
- Closed registered direct offering of 6,299,989 shares at $1.32/share for $8.3M gross; >30% from insiders.
- Consolidated eValuator and Avelead businesses; expects $1.5M annualized cost savings now, $1.5M more in FY2023.
- Appointed Ben Stilwill as President; Jawad Shaikh as Chief Strategy Officer; Amy Sebero as Chief Growth Officer.
- Workforce reduced by 10 employees (7%); executive salary cuts of 0-30% for one year.
- Anticipates exiting FY2022 with $17M SaaS ACV and FY2023 with $30M SaaS ACV; expects positive cash ops in Q3 FY2023.

## SEC filing metadata
- accession: 0001493152-22-029722
- form_type: 8-K
- cik: 0001008586
- company_name: STREAMLINE HEALTH SOLUTIONS INC.
- filed_at: 2022-10-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.05, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1008586/000149315222029722/0001493152-22-029722-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1008586/000149315222029722/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-029722
- JSON: https://secwatch.observer/filing/0001493152-22-029722.json
- Plain text: https://secwatch.observer/filing/0001493152-22-029722.txt

## Key facts
- Executive change
  Ben Stilwill was appointed as President at STREAMLINE HEALTH SOLUTIONS INC..
  - Action: appointed
  - Role: President
  source text: the Board appointed Ben Stilwill as President of the Company, effective October 26, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008586/000149315222029722/0001493152-22-029722-index.htm
- Material Agreements
  STREAMLINE HEALTH SOLUTIONS INC. entered into Purchase Agreements with Purchasers valued at 6,299,989 shares of common stock at $1.32 per share, gross proceeds approximately $8.3 million (effective 2022-10-24).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Purchasers
  - Value: 6,299,989 shares of common stock at $1.32 per share, gross proceeds approximately $8.3 million
  - Effective: 2022-10-24
  source text: On October 24, 2022, Streamline Health Solutions, Inc. (the “Company”) entered into purchase agreements (collectively, the “Purchase Agreements”) with purchasers named therein (the “Purchasers”), pursuant to which the Company agreed to issue and sell in a registered direct offering an aggregate of 6,299,989 shares of common stock, par value $0.01 per share (the “Common Stock”), at a purchase price of $1.32 per share (the “Offering”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008586/000149315222029722/0001493152-22-029722-index.htm
- Restructurings & Charges
  STREAMLINE HEALTH SOLUTIONS INC. announced a restructuring with charges of approximately $300,000 (approximately 10 employees, or approximately 7% of the Company’s employee workforce).
  - Type: restructuring
  - Charge: approximately $300,000
  - Headcount: approximately 10 employees, or approximately 7% of the Company’s employee workforce
  source text: The Company also eliminated four independent contractors from its cost structure. As a result of the alignment plan, the Company anticipates that it will incur approximately $300,000 in one-time severance and other employee termination-related costs. The Company is not currently aware of any other significant charges it will incur as a result of the alignment
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008586/000149315222029722/0001493152-22-029722-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.