Business
First Choice Healthcare Solutions Repurchases Warrant for 2.32 Million Shares
First Choice Healthcare Solutions Repurchases Warrant for 2.32 Million Shares.
About this update from First Choice Healthcare Solutions, Inc.
[{"type":"text","content":"\n \n \n First Choice Healthcare Solutions Repurchases Warrant for 2.32 Million Shares\n \n \nFirst Choice Healthcare Solutions Repurchases Warrant for 2.32 Million Shares\n \n MELBOURNE, FL--(Marketwired - Nov 18, 2016) - First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) (\"FCHS,\" \"First Choice\" or the \"Company\"), one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on the delivery of total musculoskeletal solutions with an emphasis on Orthopaedics, including spine care and treatment, today announced that it has completed the repurchase of a cashless warrant from Hillair Capital Investments, L.P. (\"Hillair\"), which provided Hillair with the right to purchase 2.32 million shares of the Company's common stock at an exercise price of $1.35 (the \"Warrant\"). The Warrant was originally issued to Hillair on November 8, 2013 in connection with a convertible debt financing that was paid back in full in August 2015. First Choice paid Hillair $600,000 for the repurchase of the Warrant, which has been canceled by the Company.\n Commenting on the Warrant repurchase, First Choice President and CEO Chris Romandetti stated, \"We are very pleased to have repurchased and canceled this Warrant, eliminating overhang which could have had a significant dilutive impact on our share value and fellow shareholders. Moreover, given our growth momentum and positive outlook, using our cash to repurchase the Warrant was determined to be the best use of our capital and demonstrates our confidence in First Choice's future opportunities.\"\n About First Choice Healthcare Solutions, Inc.\n Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at expanding its network of non-physician-owned medical centers of excellence, which concentrate on treating patients in the following specialties: Orthopaedics, Spine Surgery, Neurology, Interventional Pain Management and related diagnostic and ancillary services in key expansion markets throughout the Southeastern U.S. Serving Florida's Space Coast, the Company's flagship integrated platform currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, p...