has issued

Series A Preferred Stock

to an investor group led by

PayerPath is a provider of Internet-

based claims and other healthcare

financial transactions.

The undersigned acted as financial advisor to PayerPath in this Transaction

PayerPath

Description

PayerPath is a provider of web-based, value-added financial transaction services to the healthcare community. The Company enables healthcare providers and payors to electronically process transactions over the Internet, simply and inexpensively.

Situation

PayerPath was in its very early stages of growth, with a finished product, several hundred customers, and modest revenue. The Company needed capital to build out its infrastructure and fund sales and marketing efforts. Croft & Bender was hired to draft the offering memorandum, market the Company to interested parties, and to analyze, structure, and negotiate a transaction that would raise the necessary capital.

Result

Croft & Bender successfully raised capital for the Company, with the institutional investors including Marquette Venture Partners, Acacia Capital Partners, and Salix Ventures. Croft & Bender also raised additional capital eighteen months later, a round in which C&B Capital also participated alongside the initial investors and lead investor Envest Ventures.