OneMedNet Announces $4.6 Million Private Placement
OneMedNet (Nasdaq: ONMD), a leading curator of regulatory-grade Real World Data, has announced a $4.6 million private placement with institutional investors, including affiliates of Off the Chain Capital and Discovery Capital Management. The placement closed on July 25, 2024, with the company selling shares at prices meeting Nasdaq's minimum requirements. OneMedNet plans to use the net proceeds for working capital and general corporate purposes, with $1.8 million already allocated to purchase Bitcoin. The private placement involved the sale of common stock and pre-funded warrants, with the company agreeing to file a registration statement for the resale of the issued shares and those underlying the warrants.
OneMedNet (Nasdaq: ONMD), un curatore leader di dati del mondo reale di qualità regolamentare, ha annunciato un collocamento privato da 4,6 milioni di dollari con investitori istituzionali, tra cui affiliate di Off the Chain Capital e Discovery Capital Management. Il collocamento si è concluso il 25 luglio 2024, con la società che ha venduto azioni a prezzi che soddisfano i requisiti minimi di Nasdaq. OneMedNet prevede di utilizzare i proventi netti per capitale operativo e scopi aziendali generali, di cui 1,8 milioni di dollari già destinati all'acquisto di Bitcoin. Il collocamento privato ha previsto la vendita di azioni comuni e warrant prefinanziati, con la società che si è impegnata a presentare una dichiarazione di registrazione per la rivendita delle azioni emesse e quelle sottostanti ai warrant.
OneMedNet (Nasdaq: ONMD), un curador líder de datos del mundo real de calidad regulatoria, ha anunciado una colocación privada de 4,6 millones de dólares con inversores institucionales, incluidos afiliados de Off the Chain Capital y Discovery Capital Management. La colocación se cerró el 25 de julio de 2024, con la empresa vendiendo acciones a precios que cumplen con los requisitos mínimos de Nasdaq. OneMedNet planea usar los ingresos netos para capital de trabajo y propósitos corporativos generales, con 1,8 millones de dólares ya asignados para la compra de Bitcoin. La colocación privada incluyó la venta de acciones comunes y warrants prefinanciados, y la empresa acordó presentar una declaración de registro para la reventa de las acciones emitidas y las que subyacen a los warrants.
OneMedNet (Nasdaq: ONMD)는 규제 기준의 실제 데이터(curator) 전문 회사로, Off the Chain Capital 및 Discovery Capital Management의 계열사를 포함한 기관 투자자들과 함께 460만 달러의 사모 배치를 발표했습니다. 이 배치는 2024년 7월 25일에 마감되었으며, 회사는 Nasdaq의 최소 요구 사항을 충족하는 가격으로 주식을 판매했습니다. OneMedNet은 운영 자본 및 일반 기업 용도로 순수익을 사용할 계획이며, 180만 달러는 이미 비트코인 구매에 할당되었습니다. 이 사모 배치는 보통주 및 사전 자금 조달된 워런트의 판매를 포함했으며, 회사는 발행된 주식 및 워런트에 기초한 주식의 재판매를 위한 등록서를 제출하기로 합의했습니다.
OneMedNet (Nasdaq: ONMD), un acteur majeur dans la collecte de données du monde réel conformes aux normes réglementaires, a annoncé une émission privée de 4,6 millions de dollars avec des investisseurs institutionnels, y compris des affiliés de Off the Chain Capital et Discovery Capital Management. L'émission s'est clôturée le 25 juillet 2024, la société ayant vendu des actions à des prix conformes aux exigences minimales de Nasdaq. OneMedNet prévoit d'utiliser le produit net pour le fonds de roulement et des fins corporatives générales, dont 1,8 million de dollars sont déjà affectés à l'achat de Bitcoin. L'émission privée a inclus la vente d'actions ordinaires et de bons préfinancés, la société s'étant engagée à déposer une déclaration d'enregistrement pour la revente des actions émises et de celles sous-jacentes aux bons.
OneMedNet (Nasdaq: ONMD), ein führender Anbieter von regulierungsrelevanten Daten aus der realen Welt, hat eine Private Placement in Höhe von 4,6 Millionen US-Dollar mit institutionellen Investoren, darunter Partner von Off the Chain Capital und Discovery Capital Management, angekündigt. Das Placement wurde am 25. Juli 2024 abgeschlossen, wobei das Unternehmen Aktien zu Preisen verkaufte, die den Mindestanforderungen von Nasdaq entsprechen. OneMedNet plant, die Nettoeinnahmen für Betriebs- und allgemeine Unternehmenszwecke zu verwenden, wobei 1,8 Millionen US-Dollar bereits zur Kauf von Bitcoin zugewiesen wurden. Bei dem Private Placement wurden Stammaktien und vorfinanzierte Warrants verkauft, und das Unternehmen hat sich verpflichtet, eine Registrierungsanmeldung für den Weiterverkauf der ausgegebenen Aktien und der den Warrants zugrunde liegenden Aktien einzureichen.
- Raised $4.6 million in gross proceeds through private placement
- Attracted institutional investors, including affiliates of Off the Chain Capital and Discovery Capital Management
- Share price meets Nasdaq's minimum price requirement
- Allocated $1.8 million to purchase Bitcoin, potentially diversifying assets
- Dilution of existing shareholders due to issuance of new shares and warrants
- Potential volatility risk associated with Bitcoin investment
OneMedNet's recent
The offering structure, with a mix of common stock and pre-funded warrants at different price points (
While the capital raise strengthens OneMedNet's balance sheet, investors should note that the issuance of new shares and potential exercise of warrants will lead to dilution. The company's decision to file a registration statement for resale suggests a potential for near-term selling pressure once the shares become freely tradable.
Overall, this financing provides OneMedNet with additional runway, but the unconventional Bitcoin purchase and the dilutive nature of the offering may raise questions about the company's long-term strategy and capital efficiency.
OneMedNet's position as a curator of regulatory-grade Real World Data (RWD) places it at the intersection of healthcare and technology. The company's unique inclusion of medical imaging data in its RWD offerings sets it apart in the competitive health tech landscape. This private placement could potentially accelerate OneMedNet's data curation capabilities or expand its technological infrastructure.
However, the decision to allocate
The company's focus on regulatory-grade data suggests a commitment to quality and compliance, which is important in the heavily regulated healthcare industry. As artificial intelligence and machine learning continue to transform healthcare, high-quality, diverse datasets like those offered by OneMedNet become increasingly valuable. The additional capital could potentially be used to enhance data processing capabilities, improve AI algorithms, or expand the types of data curated.
Investors should watch for how OneMedNet leverages this capital to strengthen its technological moat and whether the Bitcoin investment proves to be a savvy move or a distraction from its core business in the rapidly evolving health tech landscape.
OneMedNet's private placement reflects growing investor interest in the Real World Data (RWD) market, which is projected to experience significant growth in the coming years. The healthcare industry's shift towards evidence-based decision-making and personalized medicine is driving demand for high-quality, diverse datasets like those offered by OneMedNet.
The participation of institutional investors, including affiliates of Off the Chain Capital and Discovery Capital Management, suggests confidence in OneMedNet's market position and growth potential. However, the varying share prices (
OneMedNet's unique offering of medical imaging data alongside electronic health records and laboratory results positions it well in the competitive RWD landscape. This comprehensive approach could be particularly valuable for research in fields like radiology, oncology and neurology, where imaging plays a important role.
The decision to allocate
As the RWD market continues to evolve, OneMedNet's ability to leverage this new capital to expand its data offerings, improve data quality and enhance its technological capabilities will be important in maintaining and growing its market share in this competitive and rapidly changing industry.
Institutional investors include affiliates of Off the Chain Capital and Discovery Capital Management
MINNEAPOLIS, July 26, 2024 (GLOBE NEWSWIRE) -- OneMedNet Corporation (Nasdaq: ONMD) (“OneMedNet” or the “Company”), the leading curator of regulatory-grade Real World Data ("RWD"), inclusive of electronic health records, laboratory results and, uniquely, medical imaging, today announced that it has entered into securities purchase agreements with certain institutional investors, including an affiliate of Off the Chain Capital and an affiliate of Discovery Capital Management, in a private placement that resulted in gross proceeds of approximately
Pursuant to the terms of the securities purchase agreement with an affiliate of Off the Chain Capital, OneMedNet sold an aggregate of 1,297,059 shares of its common stock at a price of
Pursuant to the terms of the securities purchase agreement with an affiliate of Discovery Capital Management, OneMedNet sold an aggregate of 2,301,791 shares of its common stock at a price of
The offer and sale of the securities in the private placement and described above are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Pursuant to registration rights agreements, OneMedNet agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock issued in this private placement and the shares of common stock underlying the pre-funded warrants.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About OneMedNet Corporation
OneMedNet provides innovative solutions that unlock the significant value contained within the Real-World Data (“RWD”) repositories of over 1,400 healthcare system and provider sites that currently comprise its iRWD™ network. OneMedNet’s proprietary iRWD™ platform provides secure, comprehensive management of diverse clinical data types, including electronic health records, laboratory results, and uniquely, medical imaging. Employing its robust iRWD™ platform, the Company securely de-identifies, searches, and curates the clinical data, bringing a wealth of internal and third-party research opportunities to its drug, medical device and imaging/diagnostic AI development customers.
OneMedNet’s platform is designed to meet the clinical requirements necessary across various domains, including but not limited to rare diseases, oncology and cardiology. The Company is committed to delivering precise and robust research support services that span the entire continuum of care. This commitment is a cornerstone of OneMedNet’s strategy to enhance patient outcomes and help pave the next wave of healthcare innovation. For more information, please visit www.onemednet.com.
About Off the Chain Capital
Off the Chain Capital is the general partner and manager of Off the Chain, LP. The Firm utilizes a value approach to invest in digital assets and equity in blockchain companies with a goal of acquiring at a discount to their intrinsic value. This strategy is designed to provide downside protection without sacrificing upside, making it an option for family offices, endowments, foundations, and first-time investors in blockchain assets.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; our business prospects and opportunities; and our use of the net proceeds from the private placement, including whether we will purchase Bitcoin or any other digital assets and the holding period for any such purchases. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of OneMedNet; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
OneMedNet Contacts:
Stephen Kilmer, Investor Relations
Phone: 647.872.4849
Email: stephen.kilmer@onemednet.com
Michael Wong, Director of Marketing
Phone: 800.918.7189
Email: michael.wong@onemednet.com
Off the Chain Capital Contact:
Brian Dixon, CEO
LP@OfftheChain.Capital
Discovery Capital Management Contact:
Robert Citrone, Founder
SOURCE: ONEMEDNET CORPORATION
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