Rennova Health Stockholders Approve Proposal at Special Meeting
WEST PALM BEACH, FL -- (Marketwired) -- 06/21/17 -- Rennova Health, Inc. (NASDAQ: RNVA), (NASDAQ: RNVAZ) ("Rennova" or the "Company"), a vertically integrated provider of industry-leading diagnostics and supportive software solutions to healthcare providers, announces that its stockholders approved Proposal 1 at a Special Meeting of Stockholders held on June 16, 2017.
A total of 2,759,422 shares, or approximately 79% of the votes cast, were voted in favor of Proposal 1. That Proposal approved, for the purpose of Nasdaq Listing Rule 5635(d), the issuance of shares of the Company's common stock underlying Senior Secured Original Issue Discount Convertible Debentures and three series of Warrants issued by the Company pursuant to the terms of that certain Securities Purchase Agreement, dated as of March 15, 2017, and those certain Exchange Agreements, dated as of March 15, 2017, between the Company and the investors named therein, in an amount in excess of 19.99% of the Company's common stock outstanding before the issuance of such Senior Secured Original Issue Discount Convertible Debentures and Warrants.
"I want to thank our stockholders for their participation in this important vote," commented Seamus Lagan, chief executive officer of Rennova. "With this matter behind us, we can fully concentrate on progressing our near-term plans for building stockholder value, which include opening our Big South Fork Medical Center in Tennessee, adding additional preferred provider networks, forging contracts with third-party payers, adding Medicaid contracts and increasing the number of tests we offer in our clinical laboratory segment."
Because Proposal 1 was approved by stockholders, Proposal 2 was not voted on at the Special Meeting. Proposal 2 was to authorize an adjournment of the Special Meeting, if necessary, if a quorum was present, in order to solicit additional proxies if there were not sufficient votes in favor of Proposal 1.
About Rennova Health, Inc.
Rennova provides industry-leading diagnostics and supportive software solutions to healthcare providers, delivering an efficient, effective patient experience and superior clinical outcomes. Through an ever-expanding group of strategic brands that work in unison to empower customers, we are creating the next generation of healthcare. For more information, please visit www.rennovahealth.com.
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company's most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
Source: Rennova Health, Inc.
Released June 21, 2017