Flow Capital Announces Early Repayment of KOVO HealthTech Investment
April 24 2023 - 6:00AM
Flow Capital Corp. (TSXV:FW) (“Flow Capital” or the “Company”), a
leading provider of flexible growth capital and alternative debt
solutions, announces the early repayment of its investment in KOVO
HealthTech Corporation (“KOVO”). Kovo repaid Flow Capital’s loan
investment of US$1,500,000 (C$2,020,350). In addition to the
return of the principal invested, Flow also received prepayment
fees of approximately US$159,452 (C$214,766).
Kovo HealthTech is a growing healthcare
technology company that specializes in Billing-as-a-Service
offering SaaS-style recurring revenue contracts and software for
more than 1,700 US healthcare providers.
“KOVO’s acquisition expertise as well as its
proprietary OneRev technology continues to optimize revenue and
efficiency within its acquired US based businesses. We were
thrilled to be a partner with them on their growth journey and to
provide them the growth capital needed to bridge to a successful
equity raise. With the help of our capital, companies
are able to execute on their growth plans and avoid taking on
excessively dilutive financing. We are glad we had the
opportunity to partner with the team at KOVO and we wish them
continued success and growth in the future,” said Alex Baluta,
Chief Executive Officer of Flow Capital.
“Given the strength of our origination
capabilities and our ability to continually identify and fund high
performing and high growth companies, we expect to reinvest
the returned capital into new high-quality investment, in pursuit
of interest income and warrant based equity gains, creating more
value for Flow shareholders." said Alex
Baluta.
Flow Capital invites growing technology
companies, seeking covenant light founder-friendly growth capital,
to apply for funding directly on their website at
www.flowcap.com/apply.
About
Flow Capital
Flow Capital Corp. is a diversified alternative
asset investor and advisor, specializing in providing minimally
dilutive capital to emerging growth businesses. For more
information on Flow Capital, please visit
www.flowcap.com.
For further information, please contact:
Flow Capital Corp.Alex BalutaChief Executive
Officeralex@flowcap.com
1 Adelaide Street East, Suite 3002,PO Box 171,Toronto, Ontario
M5C 2V9
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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