ATLANTA, Aug. 22, 2018 (GLOBE NEWSWIRE) -- AMERI Holdings, Inc. (Nasdaq: AMRH) (“Ameri100” or the “Company), a specialized SAP® cloud, digital, and enterprise services company, today announced that it has entered into a securities purchase agreement with an accredited investor in connection with a private placement of $600,000 of shares of its common stock and warrants as a follow-on investment in connection with a $6,000,000 private placement which was completed on July 30, 2018. The per share purchase price of the common stock was $1.20, and the initial exercise price for the warrants is $1.60 per share, subject to adjustment. In connection with the private placement, the Company will issue approximately 500,000 shares of common stock or common stock equivalents and warrants to purchase approximately 400,000 shares of common stock, subject to adjustment. The follow-on investor was not issued any shares at the closing of the follow-on investment, due to Nasdaq stock issuance limitations, but the shares will be issued upon the exercise of a pre-funded warrant for no additional consideration to the Company, subject to stockholder approval. The private placement, including the follow-on investment, has now closed.
The Company’s estimated net proceeds from the follow-on investment are expected to be approximately $0.54 million. The Company intends to use the net proceeds for the repayment of certain indebtedness, past acquisition obligations and general working capital purposes.
A.G.P. / Alliance Global Partners acted as the exclusive placement agent for the private placement.
About Ameri100
Ameri100 is a specialized SAP® cloud, digital and enterprise services company which provides SAP® services to customers worldwide. Headquartered in Atlanta, 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.
