Skylight Health Announces Closing of Public Offering of 275,000 Shares of Series A Cumulative Redeemable Perpetual Preferred Stock
December 07 2021 - 8:36AM
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 closing of its
previously announced underwritten registered offering of 275,000
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 for gross proceeds of US$5,775,000 before deducting for
underwriter’s fees and offering expenses; proceeds from the
offering will be used towards working capital, corporate related
activities, and capital for future mergers & acquisitions. The
shares of Series A Preferred Stock trade on the Nasdaq Capital
Market under the symbol "SLHGP."
The Benchmark Company, LLC acted as Sole Book
Running Manager for the Offering.
The Series A Preferred Shares were 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
prospectus supplement relating to the Offering (together with the
Base Shelf Prospectus and the Registration Statement) has been
filed with the securities commission in British Columbia, Alberta,
Manitoba and Ontario and with the SEC in the United States.
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. A final
prospectus supplement and an accompanying prospectus relating to
the offering has been filed with the SEC and is available on the
SEC's website at www.sec.gov. Electronic copies of the
final prospectus supplement and the accompanying prospectus
relating to the offering may also be obtained from The Benchmark
Company, LLC, Attn: Prospectus Department, 150 E. 58th Street, 17th
floor, New York, NY 10155 or by calling 212-312-6700 or
by emailing prospectus@benchmarkcompany.com.
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
Kelly investors@skylighthealthgroup.com 416-301-2949
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.
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