Clinigence Holdings, Inc. announced that it has entered into an investment agreement for a private placement of 1,000,000 common shares at a price of $3 per share for gross proceeds of $3,000,000 on September 23, 2021. The transaction included participation from new investor, Apollo Medical Holdings, Inc. The company also issued warrants to purchase an additional 500,000 shares at $3.50 per share. As a part of the transaction, Brandon Sim from Apollo Medical Holdings, Inc. will join board of directors of the company.

The Company Shares issued in connection with private placement transaction to the investor were issued with a restrictive legend that shares had not been registered under the Securities Act of 1933 (the “Securities Act”). The issuance of the Company Shares in conjunction with the private placement transaction were exempt from registration pursuant to Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D (“Regulation D”) promulgated under the Securities Act.