Skylight Health Announces Pricing of Public Offering of 275,000 Shares of Series A Cumulative Redeemable Perpetual Preferred Stock
December 02 2021 - 6:00AM
Skylight Health Group Inc (NASDAQ:SLHG; TSXV: SLHG) (“Skylight
Health” or the “Company”), a multi-state primary care management
group in the United States, today announced the pricing of its
public offering of 275,000 shares of its 9.25% Series A Cumulative
Redeemable Perpetual Preferred Shares (the “Series A Preferred
Shares”) at a price to the public of US$21 per share. Gross
proceeds from the offering are expected to be approximately US$5.8
million, before deducting offering expenses.
The shares of Series A Preferred Stock are expected to start
trading on the NASDAQ Capital Market on December 2, 2021, under the
symbol “SLHGP”. The offering is expected to close on or about
December 6, 2021, subject to the satisfaction of customary closing
conditions.
The Benchmark Company, LLC acted as Sole Book Running Manager
for the Offering.
The underwriters have been granted a 30-day option to purchase
up to 41,250 additional shares of Series A Preferred Stock from the
Company, exercisable in whole or in part, solely to cover
over-allotments, at the public offering price less the underwriting
discount.
The Series A Preferred Stock was offered under the Company’s
shelf registration statement on Form F-10, declared effective by
the United States Securities and Exchange Commission (the “SEC”)
(the “Registration Statement”), and the Company’s existing Canadian
amended and restated short form base shelf prospectus (the “Base
Shelf Prospectus”) dated October 4, 2021. The preliminary
prospectus supplements relating to the Offering (together with the
Base Shelf Prospectus and the Registration Statement, the “Offering
Documents”) has been filed with the securities commission in
British Columbia, Alberta, Manitoba and Ontario and with the SEC in
the United States. A final prospectus supplement and an
accompanying prospectus related to the offering will be filed with
the SEC. No Preferred Shares will be offered or sold to Canadian
purchasers. The Offering Documents will contain important detailed
information about the securities being offered. Before you invest,
you should read the Offering Documents and the other documents the
Company has filed with the SEC for more complete information about
the Company and the Offering. Copies of the Offering Documents will
be available for free by visiting the Company’s profiles on the
SEDAR website maintained by the Canadian Securities Administrators
at www.sedar.com or the SEC’s website at www.sec.gov. Electronic
copies of the final prospectus supplement and accompanying
prospectus relating to the offering may be obtained from The
Benchmark Company, 150 East 58th Street, New York NY 10155, by
email at Prospectus@benchmarkcompany.com or by phone at (212) 312
6700.
No securities regulatory authority has either approved or
disapproved of the contents of this press release. This press
release is for information purposes only and shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
About Skylight Health Group
Skylight Health Group (NASDAQ:SLHG;TSXV:SLHG) is a healthcare
services and technology company, working to positively impact
patient health outcomes. The Company operates a US multi-state
primary care health network comprised of physical practices
providing a range of services from primary care, sub-specialty,
allied health, and laboratory/diagnostic testing. The Company is
focused on helping small and independent practices shift from a
traditional fee-for-service (FFS) model to value-based care (VBC)
through tools including proprietary technology, data analytics and
infrastructure. In an FFS model, payors (commercial and government
insurers) reimburse on an encounter-based approach. This puts a
focus on volume of patients per day. In a VBC model, the providers
offer care that is aimed at keeping patients healthy and minimize
unnecessary health expenditures that are not proven to maintain the
patient’s well-being. This places an emphasis on quality over
volume. VBC will lead to improved patient outcomes, reduced cost of
delivery and drive stronger financial performance from existing
practices.
Forward Looking Statements
This press release may include predictions, estimates or other
information that might be considered forward-looking within the
meaning of applicable securities laws. While these forward-looking
statements represent our current judgments, they are subject to
risks and uncertainties that could cause actual results to differ
materially. You are cautioned not to place undue reliance on these
forward-looking statements, which reflect our opinions only as of
the date of this release. Please keep in mind that we are not
obligating ourselves to revise or publicly release the results of
any revision to these forward-looking statements in light of new
information or future events. When used herein, words such as "look
forward," "believe," "continue," "building," or variations of such
words and similar expressions are intended to identify
forward-looking statements. Factors that could cause actual results
to differ materially from those contemplated in any forward-looking
statements made by us herein are often discussed in filings we make
with the Canadian and United States securities regulators,
including the Securities and Exchange Commission, available
at: www.sec.gov, and Canadian Securities Administrators,
available at www.sedar.com, and on our website,
at skylighthealthgroup.com.
For more information, please visit our website or contact:
Investor Relations:Jackie
Kellyinvestors@skylighthealthgroup.com416-301-2949
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Skylight Health (TSXV:SLHG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Skylight Health (TSXV:SLHG)
Historical Stock Chart
From Jul 2023 to Jul 2024