UpHealth, Inc. Announces Closing of $4.5 Million Private Placement

DELRAY BEACH, Fla., March 13, 2023 (GLOBE NEWSWIRE) — UpHealth, Inc. (“UpHealth” or the “Company”) (NYSE:UPH), a global digital health company delivering technology platforms, infrastructure, and services to modernize care delivery and health management, today announced that it has closed its previously announced private placement with a single, healthcare-focused institutional investor for the purchase and sale of 3,000,000 shares of the Company’s common stock (or common stock equivalents in lieu thereof) together with series A warrants to purchase up to 3,000,000 shares of common stock and series B warrants to purchase up to 3,000,000 shares of the Company’s common stock at a purchase price per share (and accompanying series A and series B warrants) of $1.50 resulting in total gross proceeds of approximately $4.5 million before deducting placement agent commissions and other estimated offering expenses. The series A and series B warrants have an exercise price of $2.04 per share and are initially exercisable beginning six months following the date of issuance. The series A warrants will expire five years from the initial exercise date, and the series B warrants will expire 2 years from the initial exercise date.

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