HealthLynked Corp.
Converts
$1.3
Million
of
Investor
Debt to Equity, Further
Strengthening
the Company's
Balance Sheet
Naples,
FL -- January
15,
2021 -- InvestorsHub
NewsWire -- HealthLynked
Corp. (OTCQB:
HLYK),
a global
healthcare network focused on care management of its members and a
provider of healthcare technologies that connects doctors, patients
and medical data, announced
today
that it has converted $1.3
million of its debt to equity, eliminated the security interest
on its assets. This will allow the
company to obtain
a
bank line
of credit at current low
interest rates.
Iconic
Holdings, LLC, an early
investor
in
HealthLynked, agreed to
convert
all of
its convertible
debt
totaling
$1.3
million,
including
principal
and accrued
interest, into
13.5 million
HealthLynked
common
shares
and
13.5
million
five-year warrants
with
an
exercise price of $0.30
per
share in exchange for a 180
day leak out provision, 5% of daily volume for the first 90 days
and 10% of daily volume for the next 90 days.
George
O'Leary, HealthLynked's Chief Financial Officer, stated,
"This conversion from debt
to equity allows us to further
strengthen our balance sheet and reallocates
$1.3
million
in
working capital that will not be
required for
retirement of
Iconic's debt in cash. Iconic Holdings
has been a great partner
over the last four years,
and we
are thrilled that they are converting their debt to equity as they
continue to support HealthLynked's
planned growth."
About
HealthLynked Corp.
HealthLynked Corp.
provides a solution for both patient members and providers to
improve healthcare through the efficient exchange of medical
information. The HealthLynked Network is a cloud-based platform
that allows members to connect with their healthcare providers and
take more control of their healthcare. Members enter their medical
information, including medications, allergies, past surgeries and
personal health records, in one convenient online and secure
location, free of charge. Participating healthcare providers can
connect with their current and future patients through the system.
Benefits to in-network providers include the ability to utilize the
HealthLynked patent pending patient access hub "PAH" for patient
analytics. Other benefits for preferred providers include HLYK
marketing tools to connect with their active and inactive patients
to improve patient retention, access more accurate and current
patient information, provide more efficient online scheduling and
to fill last minute cancelations using the Company's
"real
time appointment scheduling" all within its
mobile
application. Preferred providers pay a monthly fee to access these
HealthLynked services. For additional information about
HealthLynked Corp., please
visit
www.healthlynked.com and connect with HealthLynked on Twitter,
Facebook, and LinkedIn.
Forward
Looking Statements
Forward-Looking
Statements in this press release, which are not historical facts,
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Our actual results,
including as a result of any acquisitions, performance or
achievements may differ materially from those expressed or implied
by these forward-looking statements. In some cases, you can
identify forward-looking statements by the use of words such as
"may," "could," "expect," "intend," "plan," "seek," "anticipate,"
"believe," "estimate," "predict," "potential," "continue,"
"likely," "will," "would" and variations of these terms and similar
expressions, or the negative of these terms or similar expressions.
Such forward-looking statements are necessarily based upon
estimates and assumptions that, while considered reasonable by our
management, and us are inherently uncertain. We caution you not to
place undue reliance on any forward-looking statements, which are
made as of the date of this press release. We undertake no
obligation to update publicly any of these forward-looking
statements to reflect actual results, new information or future
events, changes in assumptions or changes in other factors
affecting forward looking statements, except to the extent required
by applicable laws. If we update one or more forward-looking
statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking
statements. Certain risks and uncertainties applicable to our
operations and us are described in the "Risk Factors" section of
our most recent Annual Report on Form 10-K and in other filings we
have made with the U.S. Securities and Exchange Commission. These
reports are publicly
available
at www.sec.gov.
Contacts:
George
O'Leary
Chief
Financial Officer
goleary@healthlynked.com
(800)
928-7144, ext. 99
Investor
Relations Contacts:
Jim
Hock
Hanover
International Inc.
jh@hanoverintlinc.com
760-564-7400