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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

any's indebtedness with Hercules would be restructured to include two term loans aggregating $10.5 million and a revolving credit facility of $12 million, of which $7 million would be deemed drawn immediately following the closing of the restructuring. The revolving credit facility would expire in May 2011, but would be extended for six months under certain circumstances. Any borrowings under the revolving line of credit facility would bear interest initially at 12.0% per annum until such time that the term loans are repaid, when the interest rate on outstanding borrowings would be prime plus 4%. Borrowings under the credit facility would be based on eligible accounts receivable, including an over advance provision of up to $500,000, which would be due four weeks after the over advance is drawn. Over advances would bear interest at 15% per annum.

The term loans would include a $5.5 million ("Term Loan A") 48-month amortizing loan and a $5 million ("Term Loan B") convertible note due in November 2014. Amortization on Term Loan A would begin on December 1, 2010. Term Loan B would be convertible into shares of the Company's common stock at Hercules' option, or automatically if the 90-day value weighted adjusted price of the Company's common stock exceeds five times the conversion price. The conversion price of Term Loan B is $0.0743. The outstanding principal balances on both term loans would bear interest at 12% per annum for the initial twelve months; 18% per annum for the subsequent twelve months and 15% per annum thereafter. This interest would be payable in cash. Term Loan B would bear an additional 2.5% interest that would be "paid in kind" ("PIK"). The Company would have the option to turn the PIK interest into cash interest or additional shares of common stock if certain predefined metrics are maintained. Each term loan would be assessed a prepayment charge beginning at 5% of the total term loan commitment, and reduced to 3% after twelve
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