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Web3MediaBreaks – NextPlat Corp. (NASDAQ: NXPL) Invests Additional $1M in Progressive Care Inc. (RXMD)

By: Investor Brand Network

May 11, 2023 at 13:46 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

NextPlat (NASDAQ: NXPL, NXPLW), a global e-commerce provider, today announced that it has completed an additional $1 million investment in Progressive Care (OTCQB: RXMD), a personalized healthcare services and technology company. In connection with the $1 million investment, NextPlat purchased 455,000 newly issued units of Progressive Care, with each comprised of one share of Progressive Care’s common stock and one warrant to purchase a share of common stock at a per unit purchase price of $2.20. In addition, NextPlat executives Charles Fernandez and Rodney Barreto, as well as certain other Progressive Care convertible note holders, agreed to convert the approximately $2.9 million of outstanding principal and accrued and unpaid interest under the note to shares of Progressive Care’s common stock at a conversion price of $2.20 per share. Dawson James Securities Inc. served as an advisor for the transaction. ArentFox Schiff LLP, Washington, D.C., acted as counsel to the company, and Lucosky Brookman, New York, NY, served as counsel to Progressive Care.

To view the full press release, visit https://ibn.fm/OmQKv

About NextPlat Corp

NextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets for physical and digital assets. The company intends to collaborate with businesses, optimizing their ability to sell their goods online, domestically and internationally, and enabling customers and partners to optimize their e-commerce presence and revenue. NextPlat currently operates an e-commerce communications services division through its Global Telesat Communications Ltd and Orbital Satcom Corp business units that offer voice, data, tracking, and IoT services to customers worldwide through multiple global storefronts.

NOTE TO INVESTORS: The latest news and updates relating to NXPL are available in the company’s newsroom at https://ibn.fm/NXPL

About Web3MediaWire

Web3MediaWire is a specialized communications platform with a focus on the next generation of internet technologies. One of 50+ brands within the InvestorBrandNetwork (“IBN”), Web3MediaWire provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. Analysts and investors alike have identified decentralization, blockchain and tokenization as areas of innovation serving as the foundation for the newest iteration of global connectivity. Web3MediaWire is committed to putting the companies advancing these developments under the microscope by aggregating and distributing important news and information on Web3 opportunities. By cutting through the overload of information in today’s market, Web3MediaWire brings its clients unparalleled visibility, recognition and brand awareness. Web3MediaWire is where news, content and information converge.

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