Skylight Health Announces Series A Preferred Stock Cash Dividend
September 16 2022 - 7:22PM
Skylight Health Group Inc. (NASDAQ: TSXV: SLHG) (“Skylight Health”
or the “Company”), a multi-state primary care management group in
the United States, announced that its Board of Directors has
authorized, and the Company has declared, a dividend on its 9.25%
Series A Cumulative Redeemable Perpetual Preferred Shares (the
“Series A Preferred Shares”) for the month of October 2022. The
Series A Preferred Shares trade under the “SLHGP” stock ticker
symbol.
In accordance with the terms of the Series A
Preferred Shares, the Series A dividend will be payable in cash in
the amount of $0.1927 per share on October 20, 2022 to the
shareholders of record of the Series A Preferred Stock as of the
dividend record date of September 28, 2022.
The company has granted an aggregate of 253,740
Deferred Share Units (“DSU”) and 397,436 Restricted Share Units
(“RSU”) to Directors of the Company in accordance with the
Company’s Omnibus Equity Incentive Plan in satisfaction of a
portion of their annual compensation. Each RSU entitles the holder
to acquire one common share of Skylight Health Group (the
“Common Shares”) on vesting. The RSUs vest on September 16, 2023.
The RSUs and DSUs were priced based on the Company's share price at
market close on September 14, 2022 of $0.67. The DSU and RSU awards
are subject to all necessary regulatory approval.
Finally, pursuant to the terms and subject to the conditions of
the Debt Settlement Agreements, the Company will issue an
additional aggregate of 845,351 common shares (each a “Common
Share”) to the Creditors at a deemed price of $0.70 per Common
Share, in satisfaction of the Debt. The issuance of the Common
Shares to the Creditors pursuant to the Debt Settlement Agreement
is subject to the approval of the TSX Venture Exchange. The Common
Shares will be subject to a statutory resale restriction which will
expire four months and one day from the date of issuance in
accordance with applicable securities laws. All shares are subject
to 4 months hold period.
About Skylight Health Group
Skylight Health Group (TSXV:SLHG) is a healthcare platform in
the United States utilizing software and services to transition
patients into a value-based care model and drive better health
outcomes and experiences. The Company operates a multi-state health
network comprised of physical practices that provide services from
primary care, sub-specialty, allied health, and laboratory and
diagnostic testing. The Company focuses on transitioning small and
independent practices from a traditional fee-for-service (FFS)
model to value-based care 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 value-based care 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. Through
this model, Skylight Health is able to improve patient outcomes,
reduce cost of delivery, and drive stronger financial
performance.
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 securities regulators, 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 (NASDAQ:SLHGP)
Historical Stock Chart
From Jul 2024 to Aug 2024
Skylight Health (NASDAQ:SLHGP)
Historical Stock Chart
From Aug 2023 to Aug 2024