Chicago-based healthcare software-as-a-service provider Accelera Innovations inked a Standby Equity Purchase Agreement with Lambert Private Equity. As part of the deal, Lambert would be purchasing up to USD 200 million of the common stock of Accelera Innovations. The purchase, which would be subject to certain conditions and conditions, would be made over a period of 36 months from the effectiveness of the registration statement.
Accelera Innovations President and Chief Executive Officer John Wallin said the new equity line would give them the capital to grow. "By demonstrating access to capital it allows us to be opportunistic in accessing additional capital to continue to focus on the execution of our business plan sending a clear and positive message to our potential clients and financial stakeholders," Wallin added.
In a press release, Accelera said it would be able to draw on the equity line facility when it deems necessary. However, the company would only be able to get no more than USD 2 million in any one draw down notice from Lambert Private Equity.
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