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Authentidate Holding Corp. Completes Capital Raise

BERKELEY HEIGHTS, N.J., Dec. 11 /PRNewswire-FirstCall/ -- Authentidate Holding Corp. (Nasdaq: ADAT), a worldwide provider of secure Health Information Exchange and workflow management services, today announced that it has completed its previously announced "registered direct" offering of its common stock and warrants resulting in gross proceeds of $3.4 million.

At closing, Authentidate issued 3,400,000 shares of common stock and warrants to purchase up to 3,400,000 additional shares of common stock to a select group of institutional and accredited investors. The warrants will be exercisable for a 90 day period beginning on the closing date at an exercise price of $1.00 per share. Authentidate expects to receive approximately $2.9 million in net proceeds, after deducting the placement agent's fees and estimated offering expenses. As previously disclosed, Authentidate anticipates that the net proceeds from this transaction will be used for working capital and general corporate purposes, including supporting the rollout of its ExpressMD telehealth products and services.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), acted as the exclusive placement agent for the transaction.

The shares and warrants were sold by Authentidate pursuant to a shelf registration statement declared effective by the Securities and Exchange Commission on September 30, 2009. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities may only be offered by means of a prospectus, including a prospectus supplement, which forms a part of the effective registration statement. Copies of the final prospectus supplement and accompanying base prospectus can be obtained from the SEC's website at

About Authentidate Holding Corp.

Authentidate Holding Corp. is a worldwide provider of secure Health Information Exchange and workflow management services. The company's software and web-based services enable healthcare organizations and other enterprises to increase revenues, improve productivity and reduce costs by eliminating paper and manual work steps from clinical, administrative and other processes and enhancing compliance with regulatory requirements. The web-based services are delivered as Software as a Service (SaaS) to customers. These solutions incorporate rules-based electronic forms, intelligent routing, transaction management, electronic signatures, identity credentialing, content authentication and automated audit trails. Both web and fax based communications are integrated into automated and trusted workflow solutions. The company has offices in the United States and Germany. In the United States, Authentidate offers its patent pending content authentication technology in the form of the United States Postal Service® Electronic Postmark® (USPS EPM®).

For more information, visit the company's website at

This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of the company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the company's ability to implement its business plan for various applications of its technologies, related decisions by the USPS, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the company or any other person that the objectives and plans of the company will be achieved.

Authentidate and Inscrybe are registered trademarks of Authentidate Holding Corp. All other trade names are the property of their respective owners.

    Investor Contacts:
    Todd Fromer / Garth Russell
    KCSA Strategic Communications
    212-896-1215 / 212-896-1250 /

SOURCE Authentidate Holding Corp.

SOURCE Authentidate Holding Corp.
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