TNTY news
ATLANTA , Aug. 10, 2018 (GLOBE NEWSWIRE) -- True Nature Holding, Inc. (OTCQB:TNTY) (the "Company" or "True Nature" today announced that it has executed a definitive term sheet and commitment for a shelf registration financing of up to $6 million dollars with GHS Investments, LLC (“GHS”), and that it is in discussions for bridge financing to fund its interim operating needs. Under terms of the agreement, the Company has the right at its sole discretion, but not the obligation, to sell up to $6 million of its common stock to GHS, in a tranche amounts as the Company determines. In conjunction with the financing it intends to file a registration statement under Form S-1 with the SEC within 45 days. It further disclosed that it believes it will be able to finalize bridge financing as an interim financing source.
“We have been working diligently to build out the strategy for growth within the healthcare arena, and near term in the healthcare information technology space (HIT). We have a solid plan for internal growth, and we have a number of acquisitions. We now have a means to fund those actions, at a time and price when we see fit, in the best interests of the shareholders,” said Louis DeLuca , Chief Operating Officer of True Nature Holding, Inc.
“Over the last three (3) years we have we have avoided institutional financing approaches. Now, with solid plans, revenue from our new technology offerings, and exciting growth on the horizon both internally, and through acquisitions, we think the time is right to engage a team that can provide the capital needed,” explained DeLuca. When asked about the details he explained, “We worked with a number of professionals, our investment banking partner and legal counsellors in deciding on this approach. The structure we are using on this $6 million is currently a shelf registration, structured as an equity line, so it’s available for use when we feel the need, and only when we think the timing and pricing is right. The tranche-based financing is currently set to be priced at 80% of the closing price for the common stock in the ten (10) day period prior to funding, and we would hope to improve on those terms over time, as we grow as a company and the market for our stock becomes more mature.”
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