Forian Inc. (NASDAQ: FORA) announced on Wednesday a $24 million valued private placement of 3.5% convertible notes. The company, which provides analytics services and software solutions to healthcare and cannabis industries, also revealed it has appointed Michael Vesey as the new Chief Financial Officer.
The Offering Details
The company, based in Newtown, PA, has entered into a convertible note purchase agreement with a select group of institutional and accredited investors under which it will issue a $24 million aggregate principal amount at 100% of par value of its 3.5% convertible notes due 2025.
The notes are convertible into (i) shares of the Company's common stock at a conversion price of $11.98, and (ii) warrants to purchase the number of shares of the …