NexJ Health Holdings raises $2.8M in equity financing

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By Ted Liu

NexJ Health Holdings Inc., a provider of patient engagement solutions for chronic disease management, has closed a private placement of 11,179,500 common shares at $0.25 per share for gross proceeds of $2,794,875.

It is the first equity financing since its spinout from NexJ Systems Inc. in January 2016. Prior the financing, NexJ Health has been primarily financed by advances from NexJ Systems and bridge loans from Tatham Family Holdings II Ltd.

Following the closing of the financing, NexJ Health will have 32,446,853 common shares issued and outstanding.

Pursuant to the financing, Tatham Family Holdings II Ltd. subscribed 4,000,000 common shares and Eastwood Capital Corporation subscribed 2,000,000 common shares.

After giving effect to private placement, William Tatham, Executive Chairman of NexJ Health Holdings and President of Tatham Family Holdings II Ltd., owns and controls an aggregate of 9,560,503 common shares, representing approximately 29.47% of the currently issued and outstanding shares, and William Holland, President of Eastwood Capital Corporation, owns and controls an aggregate of 4,336,300 common shares, representing approximately 13.36% of the currently issued and outstanding common shares.

Tatham and Holland acquired beneficial ownership and control of an aggregate of 5,560,503 and 2,336,300 common shares, respectively, on January 25, 2016, representing 26.15% and 10.99%, respectively, at time of spin out.

photo credit: NexJ Health