Streamline Health sees $4.5M in added liquidity, announces new board members

Streamline Health Solutions, announced that it has entered into a securities purchase agreement with accredited investors in a private placement of unsecured subordinated notes and warrants and issued common stock to a single accredited investor in a private placement, for aggregate gross proceeds of approximately $4.5M The Company also announced the appointment of two new members to serve on the board of directors of the Company. Appointment of New Directors… The Company announced the appointment of CEO Benjamin Stilwill and Matthew Etheridge to its board of directors, effective February 7… The Company announced the closing of a private placement of unsecured subordinated promissory notes in the aggregate principal amount of $4.4 million and warrants …The Company expects the proceeds from the Private Placements will be sufficient to achieve the previously announced adjusted EBITDA breakeven run rate of $15.5M of installed SaaS ARR , which it reiterated is expected to occur during the second half of fiscal 2024.”I look forward to working alongside our board and talented team members as we accelerate Streamline’s growth,” stated Benjamin Stilwill, Chief Executive Officer. “Our improved liquidity position will allow the business to continue supporting our healthcare system clients through our unique pre-bill revenue cycle solutions.”