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InfoLogix Announces Receipt of NASDAQ Waiver for Stockholder Approval of Restructuring and Extension to Stockholder's Equity Requirement
Date:11/10/2009

HATBORO, Pa., Nov. 10 /PRNewswire-FirstCall/ -- InfoLogix, Inc. (Nasdaq: IFLG), a leading technology provider of enterprise mobility solutions for the healthcare and commercial industries, today announced that NASDAQ has granted the Company's request for an exception to NASDAQ's stockholder approval requirements, in accordance with NASDAQ Listing Rule 5635(f). The Company is relying on this exception to complete a proposed plan of restructuring, pursuant to which a portion of the Company's outstanding debt with Hercules Technology Growth Capital, Inc. (Nasdaq: HTGC), ("Hercules") would be converted into equity in the Company, the remaining outstanding debt with Hercules would be otherwise restructured, the Company would issue warrants to Hercules or its affiliate to purchase equity in the Company, and certain other debt and earnout obligations with other parties would be restructured. The Company currently anticipates that the transaction would close on or about November 20, 2009. The restructuring would result in cancellation of $5 million in indebtedness and provide for up to $5 million in availability under a revolving credit facility with Hercules.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090618/NE35135LOGO )

Under the proposed plan of restructuring, Hercules or one of its affiliates would exchange $5 million in indebtedness for 67,294,751 shares of the Company's common stock and a warrant to purchase 16,823,688 shares of the Company's common stock at an exercise price of $0.0743 per share. The Company would agree to register these shares with the Securities and Exchange Commission for resale.

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SOURCE InfoLogix, Inc.
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