OptimizeRx Corporation (NasdaqCM:OPRX) signed an agreement to acquire Healthy Offers, Inc. for $95 million on October 11, 2023. The cash component of the acquisition is being funded from OptimizeRx?s existing cash and short-term investments and from the proceeds of a new $40 million credit facility provided by Blue Torch Capital. Following the transaction, OptimizeRx will have approximately $12.5 million in cash and short-term equivalents available. The certain members of Medicx?s management plan to invest approximately $10.5 million of their proceeds into the Company?s common stock. Closing is expected during the fourth quarter of 2023. As on October 12, 2023, the Company announced that Stephen L. Silvestro will be appointed President of the Company effective as of the closing of the Merger. In connection with assuming his new position, Mr. Silvestro will step down as Chief Commercial Officer effective as of the closing of the Merger.
RBC Capital Markets, LLC served as exclusive financial advisor to OptimizeRx with respect to the acquisition of Medicx. RBC Capital Markets, LLC served as exclusive placement agent for OptimizeRx with respect to the Blue Torch Capital financing. Blank Rome LLP acted as legal advisor to OptimizeRx for both the acquisition and the financing. Canaccord Genuity served as financial advisor and Weiss Brown provided legal counsel to Medicx.