Forian Inc. , a provider of technology, analytics, and data science-driven solutions for the healthcare and cannabis industries, today announced the following: Convertible Notes Offering The Company has entered into a convertible note purchase agreement (the “Note Purchase Agreement”) with a select group of institutional and accredited investors pursuant to which the Company will issue $24,000,000 aggregate principal amount at 100% of par value of its 3.5% convertible notes due 2025 (the “Notes”). The Notes are convertible into (i) shares of the Company’s common stock at a conversion price of $11.98, the consolidated closing bid price of the Company’s common stock as reported by the Nasdaq Stock Market LLC on Tuesday, August 31, 2021, the last trading day preceding the Company’s execution of the Note Purchase Agreement (the “Conversion Price”) and (ii) warrants to purchase the number of shares of the Company’s common stock equal to (a) twenty percent (20%) of the converted principal amount, divided by (y) the Conversion Price, which warrants will have an exercise price equal to the Conversion Price and will terminate at the maturity date (the “Warrants”). Interest will be added to the principal amount of the Notes and paid in kind upon conversion or in cash upon redemption at or prior to the September 1, 2025 maturity date.

Published Ncv Newswire, New Cannabis Ventures, 09/01/2021 17:57:00

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