Business
ORHub Raises $3.8 Million Through Successful Warrant Exercise
ORHub Raises $3.8 Million Through Successful Warrant Exercise.
About this update from Orhub, Inc.
[{"type":"text","content":"\n\n NEWPORT BEACH, Calif., Jan. 10, 2018 (GLOBE NEWSWIRE) -- ORHub, Inc. (OTC:ORHB), an advanced medical software provider focused on real-time digital data analytics, today announces it has received gross proceeds of $3,860,000 from the exercise of warrants prior to their expiration on December 31, 2017. The Company had previously announced a Special Exercise Price of $0.35 for all series of warrants outstanding. All warrants issued by the company have now been exercised or expired as of year-end 2017.\n “ORHub is privileged to have strong support from our investor community as demonstrated by the successful warrant exercise,” said Colt Melby, CEO of ORHub. “This additional capital will help our expansion efforts as we scale the ORHub software platform nationwide.” Since July 1, 2016, the Company has raised the capital to allow for the transition from a development stage company into a revenue generating service provider. Upon the closing of the year, all series of warrants set to expire eliminated the resulting overhang on the Company’s capital structure, positioning the structure for clean appreciation as revenues and ultimately earnings increase. \"We believe that we are standing on the threshold of a new age in medical systems technology. It’s beyond reason that this market has remained so unpenetrated,” said Melby. “Nevertheless, we are pleased with the magnitude of opportunity in this industry and have worked diligently to get to this point. It’s very exciting to get a strong start for 2018.\" About ORHub, Inc. ORHub is an advanced surgical software provider focused on real-time surgical data analytics. The Company's suite of products serves the needs of the health care industry, hospital, patient, government and the medical device vendor. ORHub provides a cloud-based software solution that captures information before, during and after surgery, filling a void in the current surgical information infrastructure and providing the first process to capture and measure the surgical process -- evolving Big Data into Intelligent Digital Data.  ORHub's software applications allow hospitals and medical device vendors to utilize any web- enabled device to create an anatomical graphic depiction of exactly what occurs during surgery. The application automatically translates t...