Navigation Links
ActiveCare, Inc. Announces Capital Raise Commitment and Balance Sheet Restructuring
Date:8/20/2010

SALT LAKE CITY, Aug. 20 /PRNewswire-FirstCall/ -- ActiveCare, Inc. (OTC Bulletin Board: ACAR), a biotelematic technology company that specializes in products and services that help seniors manage and control their health and wellbeing while reducing overall costs to the healthcare industry, announced a capital raise commitment and balance sheet restructuring.

The Company has received a funding commitment from a European consortium of institutional investors that has agreed to invest up to $7.5 million into ActiveCare, at a price of $0.75 per share; the immediate funding of $2.5 million will be received by the Company within thirty days.  Future tranches will be available at the option of the Company, dependent upon the achievement of certain milestones in the level of members using the Company's products.  The commitment also requires that the Company's preferred shareholders convert their preferred shares into common stock at a price of $1 per share and that the warrants held by these shareholders be re-priced at $1 per share with no future re-sets.

As additional conditions to the commitment, the consortium will have the right to appoint two non-executive board members to ActiveCare's board of directors.

With the initial funding complete the Company will have the capital necessary to perform on its business plan and fulfill orders for its products and services.  In addition, the arrangement with the preferred shareholders will eliminate a $2,000,000 liability associated with a mandatory redemption provision imbedded in the Preferred Shares.

"This funding commitment will allow the Company to achieve its goals and projections and allows ActiveCare to implement its marketing and manufacturing requirements for more than 5,000 members," stated James Dalton, president.

About ActiveCare

ActiveCare (website at

SOURCE ActiveCare, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2

Related biology news :

1. NIAID announces 25 new awards to develop radiation countermeasures
2. Aware Announces Q3 2008 Earnings Conference Call
3. Governor Doyle announces historic genomic research collaboration
4. BIO-key(R) Announces Additional $245,000 in Third Quarter Public Safety Orders
5. NARSAD announces 2008 Prizes for Outstanding Achievement in Research on Mental Health Disorders
6. Parkinsons Disease Foundation announces award of $150,000
7. Jefferson Department of Surgery announces new pancreas tumor registry
8. NAS announces initiative to connect entertainment industry with top experts
9. Elsevier announces winners of 3rd Annual Scopus Young Indian Scientist Award
10. VUANCE Announces Crime Scene Security and Evidentiary Tracking Development Project
11. WCC Announces Version 6 of its ELISE Smart Search and Match Platform for Employment and Biometric Matching
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/10/2014)... yellow crazy ant Anoplolepis gracilipes is ranked amongst ... for catastrophic ecological impacts on islands. A new study published ... examines and assesses the effects and dangers of the introduction ... the mature palm forest of the Valle de Mai, a ... forest of Valle de Mai is a unique ecosystem containing ...
(Date:7/10/2014)... the West African nation Burkina Faso today have ... Press has the potential to increase access to ... and in communities by combining a lower-dose formulation ... acetate)with the BD Uniject injection system. , Burkina ... expected to begin introducing Sayana Press in 2014, ...
(Date:7/9/2014)... pivotal in the development of cancer, viral infection and ... question about one of the most widely-researched proteins in ... of thousands of research papers and millions of pounds ... in Professor Sir Philip Cohen,s laboratory at the University ... is activated. The results are published today ...
Breaking Biology News(10 mins):Invasion of yellow crazy ant in a Seychelles UNESCO palm forest: Threats and solutions 2Injectable contraceptive launched in Burkina Faso to expand choice and address unmet need 2Injectable contraceptive launched in Burkina Faso to expand choice and address unmet need 3Research reveals how key controller protein is switched on 2
... Santa Barbara, Calif. UC Santa Barbara resource economists ... effects of a fisheries management system implemented by the National ... is funded as part of a $1 million West Coast ... and its partners. The "catch shares" program was created ...
... Md. -- Each year the American Society of Plant ... investigators through a competitive process to attend the Plant ... Young Investigator Travel Award (WYITA) program is to increase ... as an independent scientist in academia, industry, or government ...
... Childrens Research Institute and the University of Melbourne have ... allergy. It is hoped the test would be ... minimise over-diagnosis of peanut allergy in the community. ... standard for diagnosing peanut allergy, and while an oral ...
Cached Biology News:UCSB researchers to examine the effects of year-old NOAA West Coast 'Catch Shares' program 2American Society of Plant Biologists honors early career women scientists 2Test to improve peanut allergy diagnosis 2
(Date:1/15/2014)... Reston, VA (PRWEB) January 15, 2014 ... education have continued their sponsorship of an annual competition ... interest in, and access to, innovative STEM study. The ... , TEAMS: Tests of Engineering Aptitude, Mathematics, and ...
(Date:1/15/2014)... ON (PRWEB) January 15, 2014 AudioNotch ... experimental new therapy for the treatment of tinnitus. Patients ... tinnitus frequency, and over a period of weeks to months, ... Sound Therapy in two forms: Notched Music and Notched White ...
(Date:1/14/2014)...  3D Communications, a leading provider of strategic communications services to corporations ... in the United States and ... , JD, is returning to the firm,s Washington, D.C. ... after more than two years of service as Associate Commissioner for ...
(Date:1/14/2014)... iLab Solutions, the leader in core facility management software, ... Strategy. In this role, Michelle will work with current and ... the development of iLab products. Her main goal will be ... the scientific community by offering the most advanced, user-friendly, and ...
Breaking Biology Technology:Technology Student Association Partners with Leaders in STEM Education Advocacy for Annual Competition 2Technology Student Association Partners with Leaders in STEM Education Advocacy for Annual Competition 3Technology Student Association Partners with Leaders in STEM Education Advocacy for Annual Competition 4Technology Student Association Partners with Leaders in STEM Education Advocacy for Annual Competition 5Former FDA Associate Commissioner Returns To 3D Communications 2iLab Solutions Announces Michelle Detwiler as the New Director of Product Strategy 2
... /PRNewswire/ - Trillium Therapeutics Inc. (TTI), a biopharmaceutical company developing ... two definitive license agreements with University Health Network (UHN) and ... , granting Trillium exclusive worldwide rights to commercialize two immunology ... cancer. , ...
... of animals and plants is the most important technological ... species has occurred as humans have used individuals carrying ... issue of Nature an international team led ... the secrets underlying the remarkable development of the domestic ...
... ... ... , ... , , , , ...
Cached Biology Technology:Trillium expands immunology pipeline and enters stem cell field through in-licensing of two new programs 2Trillium expands immunology pipeline and enters stem cell field through in-licensing of two new programs 3Scientific breakthrough in genetic studies of animal domestication 2Toxikon Corporation Hosts Extractables and Leachables Spring Seminar 2Toxikon Corporation Hosts Extractables and Leachables Spring Seminar 3
...
Mouse monoclonal [CIG 3A11/5] to Cig2 (rating: *****) ( Abpromise for all tested applications)....
Rabbit polyclonal to CAMK 1D beta ( Abpromise for all tested applications). entrezGeneID: 57118 SwissProtID: Q5SQQ7...
Goat polyclonal to HNF4 ( Abpromise for all tested applications). Antigen: Synthetic peptide: RLSKTLVDMDMADY (Human) N terminal. Entrez GeneID: 3172 Swiss Protein ID: P41235...
Biology Products: