Skylight Health Group Inc. (TSXV: SHG) announced last night that it will be conducting a bought deal offering for aggregate proceeds of $12.0 million. The financing will see Raymond James Ltd and Stifel GMP as co-lead underwriters.
Under the terms of the financing, Skylight Health will be selling 8,572,000 common shares at $1.40 per share. The company has also given the underwriters an over-allotment option to purchase up to 15% of the common shares sold in the offering within 30 days after the closing of the transaction.
Net proceeds will be used to fund growth initiatives, including mergers & acquisition plans, and for general corporate purposes.
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The offering is expected to close May 26, 2021, subject to customary conditions and approvals.
Skylight Health Group Inc. last traded at $1.57 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
