TheFinalCD
2年前
On April 19, 2023 (the “Closing Date”), Augmedix, Inc., a Delaware corporation (the “Company”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with RedCo II Master Fund, L.P. (“Redmile”) and HINSIGHT-AUGX HOLDINGS, LLC, a Delaware limited liability company (the “Purchasers”), pursuant to which the Company sold to the Purchasers an aggregate of 3,125,000 shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”) at a purchase price of $1.60 per share (the “Purchase Price per Share”), pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 4,375,273 shares of Common Stock (the “Pre-Funded Warrant Shares”), at a price per Pre-Funded Warrant equal to the Purchase Price per Share, less $0.0001, and breakeven warrants (the “Breakeven Warrants” and together with the Shares and the Pre-Funded Warrants, the “Securities”) to purchase up to 1,875,069 shares of Common Stock (the “Breakeven Warrant Shares” and together with the Pre-Funded Warrant Shares, the “Warrant Shares”), at an exercise price of $1.75 per share, that will become exercisable on the earliest of (1) the date on which the Company closes an equity or debt financing prior to December 31, 2025, (2) December 31, 2025, if the Company cannot provide written certification that it has achieved cash flow break even from operations, excluding interest payments, for two out of three consecutive quarters between the Closing Date and December 31, 2025, on such date, (3) immediately prior to a change of control that occurs prior to December 31, 2025, and (4) the date on which a specified regulatory event occurs (such earliest date, the “Initial Exercise Date”); provided, however, that the Breakeven Warrants shall terminate effective as of 5:00 P.M. Pacific Time on December 31, 2025 if none of the foregoing events have occurred on or prior to December 31, 2025, in exchange for aggregate consideration of $11,999,999.29 (the “PIPE”). In no event shall the Initial Exercise Date be prior to the 6 month anniversary of the date of issuance, and the Breakeven Warrants will expire seven years following the date of issuance. The Pre-Funded Warrants have an exercise price of $0.0001 per Pre-Funded Warrant Share, became exercisable upon issuance and remain exercisable until exercised in full.
The Purchase Agreement contains representations and warranties of the Company and the Purchasers that are typical for transactions of this type. The Purchase Agreement also contains covenants on the part of the Company that are typical for transactions of this type.
The Purchase Agreement also contemplates that Redmile and the Company will finalize and enter into a separate equity line of credit within 30 days of the date of the Purchase Agreement, subject to the approval of the Company’s stockholders. This equity line of credit would allow the Company to sell shares of Common Stock having an aggregate price of up to $5,000,000 to Redmile from time to time, at a purchase price of $1.60 per share.
On April 19, 2023, in connection with the Purchase Agreement, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with the Purchasers, requiring the Company to register the securities issued under the Purchase Agreement. Pursuant to the Registration Rights Agreement, the Company will be required to file, on or prior to May 19, 2023 (the “Filing Date”), a registration statement with the U.S. Securities and Exchange Commission (the “SEC”) to register the resale of the Shares and the Warrant Shares.
The foregoing summaries of the Purchase Agreement, Pre-Funded Warrants, Breakeven Warrants and Registration Rights Agreement are not complete and are qualified in their entirety by reference to the full text of the form of the Purchase Agreement, Pre-Funded Warrants, Breakeven Warrants and Registration Rights Agreement attached hereto as Exhibits 10.1, 4.1, 4.2 and 10.2, respectively, to this Current Report on Form 8-K (the “Report”).
1
Item 3.02. Unregistered Sales of Equity Securities.
tw0122
2年前
AUGX News.. ugmedix Announces Partnership with HCA Healthcare to Accelerate the Development of AI-enabled Ambient Documentation
Source: GlobeNewswire Inc.
Augmedix (Nasdaq: AUGX), a healthcare technology company that delivers industry-leading ambient medical documentation, today announced a partnership with HCA Healthcare, Inc. (NYSE: HCA), one of the nation's leading healthcare providers, to accelerate development of technology that aims to transform the way patient care is documented in the acute care setting.
Augmedix will collaborate with HCA Healthcare to advance the development of AI-powered ambient documentation products for acute care clinicians, helping to streamline hospital workflows. These cutting-edge products instantly convert natural clinician-patient conversations into medical notes that physicians and nurses can review and finalize before they are seamlessly transferred in real time to the Electronic Health Record (EHR). The transformation of this vital but often time-consuming task can improve the ease of documentation and provide nurses and physicians more time to spend with patients.
HCA Healthcare currently is pilot testing Augmedix’s technology stack, which includes automatic speech recognition (ASR) technology and natural processing (NLP) algorithms, in the emergency department in two hospitals, and plans to expand the pilot in emergency departments in two additional hospitals in the first half of the year.
In conjunction with this partnership, HCA Healthcare will make a financial investment in Augmedix; this investment will accelerate progress in Augmedix’s AI-centric R&D efforts to generate fully automated ambient documentation products that function within the complex acute care setting.
“We are excited to partner with Augmedix to develop ambient documentation in the acute care setting,” said Michael J. Schlosser, MD, MBA, senior vice president, HCA Healthcare’s department of Care Transformation and Innovation (CT&I). “This technology has the potential to revolutionize the way documentation occurs at the point of care, and this partnership and investment is part of our broader strategy to use technology to support our physicians and nurses and enhance patient care.”
Schlosser adds the pilot testing is an example of HCA Healthcare’s strategy of working closely with clinicians to design and integrate innovative technology into patient care. “This Augmedix proof-of-concept is not a complete solution, which is by design. We are capturing direct feedback from and ongoing collaboration with physicians and nurses to mold and develop the solution to meet their needs.” During the pilot, HCA Healthcare plans to gather data – including critical physician, nurse, and patient feedback – to determine the potential for use at additional HCA Healthcare hospitals.
Ian Shakil, Founder, Director, and Chief Strategy Officer of Augmedix, added, “Augmedix first brought to market the practice of ambient documentation in the ambulatory setting, and we can’t imagine a better innovation partner than HCA Healthcare to bring ambient documentation to the acute care setting.”
“HCA Healthcare is a leader in deploying healthcare technology to improve patient outcomes and support physicians and nurses, and as such, they represent an ideal partner for Augmedix to deliver our innovative products to the industry at scale,” said Augmedix Chief Executive Officer Manny Krakaris. “As we continue to enhance our product offerings to best satisfy the needs of patients, nurses and physicians, we look forward to helping HCA Healthcare transform clinical documentation in the acute care setting.”
About Augmedix
Augmedix (Nasdaq: AUGX) delivers industry-leading, ambient medical documentation and data solutions to healthcare systems, physician practices, hospitals, and telemedicine practitioners. Augmedix is on a mission to help clinicians and patients form a human connection at the point of care with seamless technology. Augmedix’s proprietary Notebuilder Platform extracts relevant data from natural clinician-patient conversations and converts that data into medical notes in real time, which are seamlessly transferred to the EHR. The company’s platform uses proprietary Natural Language Processing Models, Google Cloud’s Automatic Speech Recognition, and medical documentation specialists to generate accurate and timely medical notes. Leveraging this platform, Augmedix’s products relieve clinicians of administrative burden, in turn, reducing burnout and increasing both clinician and patient satisfaction. Augmedix is also leading the revolution in leveraging point-of-care data by making connections between millions of clinician-patient interactions and analyzing them to deliver actionable insights that elevate patient care. Augmedix is headquartered in San Francisco, CA, with offices around the world. To learn more, visit www.augmedix.com.
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