- Skylight Health Group (SLHG) has closed its previously announced non-brokered private placement for gross proceeds of $2,355,000
- The company issued 2,355 units of unsecured convertible debentures at $1,000 per unit
- Each debenture will bear an annual interest rate of 8 per cent, paid quarterly in shares
- Each debenture shall be convertible into 1,111 common shares at C$0.90 and 1,111 share purchase warrants
- All securities issued are subject to a statutory hold period expiring on December 18, 2022
- Skylight Health operates a U.S. multi-state primary care health network providing sub-specialty, allied health and laboratory/diagnostic testing
- Skylight Health Group Inc. (SLHG)is down 4.55 per cent on the day, trading at C$0.84 per share at 3:30 pm ET
Skylight Health Group (SLHG) has closed its previously announced non-brokered private placement for gross proceeds of $2,355,000.
The company issued 2,355 units of unsecured convertible debentures at $1,000 per unit.
Prad Sekar, CEO & Co-Founder of Skylight Health, remarked on the successful capital raise.
“We have a strong history of being diligent in our capital raising to ensure minimal dilution, and this cash injection gives us a buffer to get us comfortably to cash flow positivity.”
Each debenture will bear an annual interest rate of 8 per cent, paid quarterly in shares, and shall have a maturity date of February 15, 2025.
Each debenture shall be convertible into 1,111 common shares at C$0.90. Each debenture holder will also receive 1,111 share purchase warrants. Each warrant entitles the holder to purchase one common share for a period 24 months.
The proceeds from the offering will be used for general working capital purposes.
The company paid finder’s fees consisting of a cash payment of $42,000 and 60,778 finders’ warrants.
All securities issued are subject to a statutory hold period expiring on December 18, 2022.
Skylight Health operates a U.S. multi-state primary care health network providing sub-specialty, allied health and laboratory/diagnostic testing.
Skylight Health Group Inc. (SLHG)is down 4.55 per cent on the day, trading at C$0.84 per share at 3:30 pm ET.
