Authentidate Holding Corp. Announces $2.46 Million Private Placement in Support of Anticipated Growth Opportunities

Authentidate Holding Corp. Announces $2.46 Million Private Placement in
Support of Anticipated Growth Opportunities

BERKELEY HEIGHTS, N.J., Nov. 12, 2013 (GLOBE NEWSWIRE) -- Authentidate Holding
Corp. (Nasdaq:ADAT), a provider of secure web-based software applications and
telehealth products and services for healthcare organizations, today announced
that it has entered into definitive purchase agreements with certain
accredited and/or institutional investors to purchase an aggregate of
$2,465,000 of the company's common stock and warrants in a private placement.
Closing of the transaction is expected to occur by November 13, 2013, subject
to the satisfaction of customary conditions. The company expects to receive
$2.4 million in net proceeds from the offering and intends to use the net
proceeds for general corporate purposes and working capital to support the
company's anticipated growth.

Ben Benjamin, Chief Executive Officer of Authentidate, stated "We are
executing our business plan well, we believe we have significant opportunities
for growth with our existing customers and we are pursuing a growing pipeline
of RFPs and other opportunities for our solutions. These additional funds will
be used primarily for general corporate and working capital purposes and
provide us with additional financial flexibility to support the growth of our
telehealth solutions for remote patient monitoring. We are pleased to be able
to bring in additional working capital financing on terms that we find
acceptable and, by improving our balance sheet at this juncture, we believe
that we will be better positioned to more aggressively grow revenues,
establish a greater presence in the marketplace and respond to new product
orders and opportunities as they arise."

Under the terms of the offering, the company will sell an aggregate of
2,347,625 shares of common stock and warrants to purchase an additional
774,716 shares of common stock at a unit price of $1.05 per share and warrant.
The warrants will be exercisable for 54 months commencing six months from the
closing date at an exercise price of $1.38 per share. The company also
entered into a registration rights agreement with the investors and granted
them demand and piggyback registration rights covering the resale of the
common stock and the shares issuable upon exercise of the warrants. The demand
registration rights will be exercisable commencing on the one-year anniversary
of the closing.

The securities offered and sold in this private placement have not been
registered under the Securities Act of 1933, as amended (the "Securities
Act"), or applicable state securities laws, and accordingly may not be offered
or sold in the United States except pursuant to an effective registration
statement or an applicable exemption from the registration requirements of the
Securities Act and such applicable state securities laws. This release does
not constitute an offer to sell or the solicitation of an offer to buy the
securities, nor shall there be any sale of the securities in any state in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of such state. 

About Authentidate Holding Corp.

Authentidate Holding Corp. is a provider of secure web-based software
applications and telehealth products and services that enable healthcare
organizations to coordinate care for patients and enhance related
administrative and clinical workflows. Authentidate's products and services
enable healthcare organizations to increase revenues, reduce costs and enhance
patient care by eliminating paper and manual work steps from clinical and
administrative processes. Authentidate's telehealth solutions combine patient
vital signs monitoring with a web application that streamlines patient care
management.Delivered as Software as a Service (SaaS), customers only require
an Internet connection and web browser to access our web-based applications
thereby utilizing previous investments in systems and technology. The
company's healthcare customers and users include leading homecare companies,
health systems, physician groups and governmental entities. These
organizations utilize the company's products and services to coordinate care
for patients outside of acute-care.

For more information, visit the company's website

This press release contains forward-looking statements within the meaning of
section 27A of the Securities Act of 1933 and section 21E of the Securities
Act of 1934. When used in this release, the words "believe," "anticipate,"
"think," "intend," "plan," "will be," "expect," and similar expressions
identify such forward-looking statements. Such statements regarding future
events and/or the future financial performance of the company are subject to
certain risks and uncertainties, which could cause actual events or the actual
future results of the company to differ materially from any forward-looking
statement. Such risks and uncertainties include, among other things, the
availability of any needed financing, the company's ability to implement its
business plan for various applications of its technologies, the impact of
competition, the management of growth, and the other risks and uncertainties
that may be detailed from time to time in the company's reports filed with the
Securities and Exchange Commission. In light of the significant risks and
uncertainties inherent in the forward-looking statements included herein, the
inclusion of such statements should not be regarded as a representation by the
company or any other person that the objectives and plans of the company will
be achieved.

Authentidate and Inscrybe are registered trademarks of Authentidate Holding
Corp. All other trade names are the property of their respective owners.

CONTACT: Media Contacts:
         Peter Seltzberg, Hayden IR, or (646) 415-8972
         Brett Maas, Hayden IR, or (646) 536-7331

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