Authentidate Holding Corp. Announces Loan Financing of $4.0 Million

Authentidate Holding Corp. ADAT, a provider of secure web-based software applications and telehealth products and services for healthcare organizations, announced that it has completed a $4.0 million secured loan financing with certain accredited investors. The group of investors included three Authentidate board members, Mr. J. David Luce, Mr. John J. Waters, and Mr. O'Connell Benjamin, who is also the Company's Chief Executive Officer, as well as Mr. William Marshall, Chief Financial Officer of Authentidate. In connection with the financing the company issued approximately $4.0 million of senior secured promissory notes and approximately 6 million warrants to the investors. The notes are not convertible into equity securities and no interest is due on the notes.