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Assured Pharmacy, Inc. Receives Gross Proceeds of $740,000 from Sale of Convertible Debentures and Warrants
Date:12/6/2011

FRISCO, Texas, Dec. 6, 2011 /PRNewswire/ -- Assured Pharmacy, Inc. (Pink Sheets: APHY, the "Company"), a growing chain of specialty pharmacies that provide advanced prescription services to a diverse array of medical professionals and their patients, announced today that it has completed a private placement to accredited investors of 16.0% senior convertible debentures for an aggregate principal amount of $740,000 due in May 2013.  The debentures are convertible into an aggregate of 587,606 shares of the Company's common stock at an initial conversion price of $1.26 per share, subject to adjustment.  As part of the private placement, the investors received warrants to purchase an aggregate of 705,127 shares of the Company's common stock.  The warrants are exercisable for a period of three years from the date of issuance at an initial exercise price of $1.51 per share, subject to adjustment.  The investors may exercise the warrants on a cashless basis if the shares of common stock underlying the Warrant have not been registered pursuant to an effective registration statement at the time of exercise.        

TriPoint Global Equities, LLC acted as the Company's exclusive placement agent in connection with the offering.

This financing is supporting the Company's ongoing business expansion and investment into solidifying its supply chain of prescription medications.  "We are very pleased to have the support of this investment as we enter the next phase of our business model," stated Mr. Robert DelVecchio, Chief Executive Officer of the Company.  "As we lay the foundation for expanding our pharmacy footprint into new markets, improving our financial position with suppliers is critical and this financing furthers that requirement."

 

The securities sold by the Company in the private placement were not registered under the Securities Act of 1933, as amended (the "Securi
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SOURCE Assured Pharmacy, Inc.
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