ATLANTA, July 25, 2018 (GLOBE NEWSWIRE) -- AMERI Holdings, Inc. (Nasdaq:AMRH), a specialized SAP® cloud, digital, and enterprise services company, today announced that it has entered into a securities purchase agreement with institutional investors in connection with a private placement of $6,000,000 of shares of its common stock and warrants. The per share purchase price of the common stock is equal to $1.20, and the initial exercise price for the warrants is equal to $1.60 per share, subject to adjustment. In connection with the private placement, the Company will issue 5,000,000 shares of common stock or common stock equivalents and warrants to purchase 4,000,000 shares of common stock, subject to adjustment. The private placement is expected to close on or about July 27, 2018, subject to satisfaction of customary closing conditions.

The Company’s estimated net proceeds from the private placement are expected to be approximately $5.4 million. The Company intends to use the net proceeds for the repayment of certain indebtedness, past acquisition obligations and general corporate purposes.

A.G.P. / Alliance Global Partners acted as the exclusive placement agent for the private placement.

The warrants are exercisable immediately and may be exercised for five years from the date of issuance.

About Ameri100

Ameri100 is a specialized SAP® cloud, digital and enterprise services company which provides SAP® services to customers worldwide. Headquartered in Suwanee, Georgia, Ameri100 has offices in the U.S. and Canada. The Company also has global delivery centers in India. With its bespoke engagement model, the Company delivers transformational value to its clients across industry verticals. For further information, visit www.ameri100.com.