Source: Quipt Home Medical.
  • Quipt Home Medical (QIPT) has closed its previously announced bought deal Public Offering of common shares in the capital of the company
  • As a result of the completion of the Public Offering and Private Placement, the company has raised aggregate gross proceeds of $42,460,650
  • The company intends to use the proceeds for repayment of debt, potential future acquisitions, working capital and general corporate purposes
  • Quipt Home Medical provides in-home monitoring equipment, supplies, and services to patients
  • Quipt Home Medical Corp. (QIPT) is down 5.24 per cent, trading at C$7.77 per share at 3:23 pm ET

Quipt Home Medical (QIPT) has closed its previously announced bought deal Public Offering of common shares in the capital of the company.

A syndicate of underwriters led by Beacon Securities Limited and Canaccord Genuity Corp. conducted the Public Offering.

Public Offering

The company received an aggregate gross proceeds of $40,262,650 from the Public Offering and the U.S. Private Offering. It includes 669,000 common shares issued pursuant to the exercise of the over-allotment option granted to the Underwriters. 

Quipt Home Medical issued a total of 5,129,000 common shares at $7.85 per common share.

Brokered private placement

Concurrent with the closing of the Public Offering, the underwriters also completed a brokered private placement. It comprised of 280,000 common shares at the issue price, for aggregate gross proceeds of $2,198,000.

As a result of the completion of the Public Offering and Private Placement, the company has raised aggregate gross proceeds of $42,460,650.

The company intends to use the proceeds for repayment of debt, potential future acquisitions, working capital and general corporate purposes.

The Underwriters received a cash commission of $2,123,032.50, representing 5.0 per cent of the aggregate gross proceeds of the offering.

About Quipt Home Medical

Quipt Home Medical provides in-home monitoring equipment, supplies, and services to patients. The company’s services consist of Daily and Ambulatory Aides, Power Mobility, INR Self-Testing, Respiratory Equipment Rental, Home ventilation, Oxygen Therapy, and Sleep Apnea and PAP Treatment.

Quipt Home Medical Corp. (QIPT) is down 5.24 per cent, trading at C$7.77 per share at 3:23 pm ET.

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