DocGo (DCGO) Announces Redemption of Warrants

DocGo (NASDAQ:DCGO), which combined with Motion in November 2021, announced that it will redeem all of its outstanding warrants at 5 pm ET September 16 at a redemption price of $0.10 per warrant.

Holders may also swap their warrants on a cashless basis for 0.2233 of a common share as a part of the exchange. The company is allowed to launch this call because the last share price of its shares was $10 or above on August 12.

In fact, the company has been on a tear, rising +31.3% over the past month. It closed yesterday at $10.20 on the backs of three successive profitable quarters as a public company. DocGo most recently beat its second quarter revenue estimates by about 10% and upped its revenue guidance for the year.

Holders may also exercise their warrants at $11.50 per share until September 16.

DocGo provides “last-mile” medical services such as medical transportation and telehealth, and it has been active in providing mobile COVID-19 stations throughout the country. This morning, it also announced that it has been contracted to provide mobile health services to Medicare-eligible patients covered by New Jersey’s largest health insurer, Horizon.