Skylight Health Submits Application for NASDAQ Capital Market Up-Listing
TORONTO, ON – January 26, 2021 – Skylight Health Group Inc (TSXV:SHG; OTCQX: SHGFF) (“Skylight Health” or the “Company”), one of the largest multi-specialty healthcare systems in the United States, has submitted its formal application to list the Company’s common stock in the US on the NASDAQ Capital Market.
Skylight Health management believes up-listing to NASDAQ will:
- Provide additional opportunities to attract institutional and retail investors, allowing the Company to broaden its investor base in the United States and internationally.
- Increase the visibility of the Company, its growth strategy, accomplishments, and results to date.
- Accelerate growth and create a more attractive platform for enhanced M&A capability.
- Increase liquidity of the Company’s common shares; and
- Raise the Company’s overall profile and ultimately enhance shareholder value.
“We believe the Company is entering a heightened growth phase and the timing could not be better for up-listing our Shares to NASDAQ,” said Prad Sekar, Co-Founder and CEO. “Being in a position to list our common stock on the NASDAQ reflects the significant progress we have made in building our financial and liquidity standards, strengthening our corporate governance, and positioning the Company for future growth and profitability. This up-listing will provide us with a larger pool of investors that use the NASDAQ as a requirement for assembling a portfolio and allow us to broaden our offering to American investors who understand first-hand the trillion-dollar healthcare opportunity.”
Acceptance for listing Company shares is subject to approval, in part, based on the Company’s ability to meet minimum listing requirements for the NASDAQ Capital Market. While the Company intends to satisfy all the applicable listing criteria, no assurance can be given that its application will be approved. A trading date will be made public once all regulatory requirements are satisfied.
The Company’s common stock will continue to trade in Canada on the TSX Venture Exchange under its current symbol SHG; and until NASDAQ listing, in the U.S. and on the OTCQX under its current symbol, SHGFF.