Company: EHSI
Filing Date: 2025-07-03
Form Type: 8-K
Source: 0001437749-25-022124
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Company: Elite Health Systems Inc.
Filing Date: 2025-07-03
Form: 8-K
Item: Item 3.02
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Item 3.02 Unregistered Sales of Equity Securities

Commencement of a Private Placement

On July 2, 2025, Elite Health Systems Inc. (the “ Company”) commenced a private placement of shares of the Company’s common stock for expected gross proceeds of a minimum of $2,000,000 and up to a maximum of $5,000,000 at a price per share of $0.95 (the “ Private Placement”).

As of the date hereof, the Company has available authorized shares to sell and issue up to 3,509,076 shares of the Company’s common stock in connection with the Private Placement. In order to issue and sell more than this amount of shares, the Company must increase the number of shares authorized under its Certificate of Incorporation. In conjunction with the Private Placement and the PSS Transaction, as defined and further described in Item 8.01 of this Form 8-K, the Company will seek to amend its Certificate of Incorporation to increase the number of shares of common stock authorized for issuance by 25,000,000, bringing the total number of shares authorized to 50,000,000 shares (the “ Amendment’). The share increase under the Amendment is subject to and conditioned upon the approval of the Amendment by the stockholders of the Company. In connection with the Private Placement and certain other matters, including the PSS Transaction, the Company will prepare and file a proxy statement with the U. S. Securities and Exchange Commission (the “ SEC”) pursuant to which the Board of Directors of the Company will recommend to the stockholders of the Company, among other things, that the stockholders approve the Amendment (the “ Proxy Statement”).

For the sale of securities in connection with the Private Placement, no general solicitation will be used, no commissions will be paid, all participants in the Private Placement will be accredited investors, and the Company will rely on the exemption from registration available under Section 4(a)(2) and/or Rule 506(b) of Regulation D promulgated under the Securities Act of 1933, as amended (the “ Securities Act”) with respect to transactions by an issuer not involving any public offering. The Company will file a Form D with the SEC within 15 days of the first date of sale. The Company anticipates that an initial closing of the Private Placement will be completed within a month from date of its commencement and expects to hold multiple closings in connection with the Private Placement.

The Company presently intends to apply substantially