UPHEALTH ANNOUNCES $67.5 MILLION CONVERTIBLE DEBT FINANCING

~ Debt Financing Further Extends Maturity Profile ~

DELRAY BEACH, Fla., Aug. 15, 2022 /PRNewswire/ -- UpHealth, Inc. ("UpHealth" or the "Company") (NYSE:UPH), a global digital health company delivering technology platforms, infrastructure, and services to modernize care delivery and health management, today announced the sale of $67.5 million in aggregate principal amount of a new series of variable rate convertible senior secured notes due December 15, 2025 (the "2025 Notes") in a private placement transaction, raising approximately $22.5 million in gross cash proceeds after paying for a repurchase of $45.0 million of its 6.25% convertible senior notes due 2026. The 2025 Notes are convertible into shares of UpHealth common stock at a conversion price of $1.75 per share, which represents a 101% premium over the most recent closing price of UpHealth's common stock.