Skylight Health Announces Pricing of Public Offering of 275,000 Shares of Series A Cumulative Redeemable Perpetual Preferred Stock
TORONTO, December 2, 2021 (GLOBENEWSWIRE) – 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 pricing of its public offering of 275,000 shares of its 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. Gross proceeds from the offering are expected to be approximately US$5.8 million, before deducting offering expenses.
The shares of Series A Preferred Stock are expected to start trading on the NASDAQ Capital Market on December 2, 2021, under the symbol “SLHGP”. The offering is expected to close on or about December 6, 2021, subject to the satisfaction of customary closing conditions.
The Benchmark Company, LLC acted as Sole Book Running Manager for the Offering.
The underwriters have been granted a 30-day option to purchase up to 41,250 additional shares of Series A Preferred Stock from the Company, exercisable in whole or in part, solely to cover over-allotments, at the public offering price less the underwriting discount.
The Series A Preferred Stock was 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 preliminary prospectus supplements relating to the Offering (together with the Base Shelf Prospectus and the Registration Statement, the “Offering Documents”) has been filed with the securities commission in British Columbia, Alberta, Manitoba and Ontario and with the SEC in the United States. A final prospectus supplement and an accompanying prospectus related to the offering will be filed with the SEC. No Preferred Shares will be offered or sold to Canadian purchasers. The Offering Documents will contain important detailed information about the securities being offered. Before you invest, you should read the Offering Documents and the other documents the Company has filed with the SEC for more complete information about the Company and the Offering. Copies of the Offering Documents will be available for free by visiting the Company’s profiles on the SEDAR website maintained by the Canadian Securities Administrators at http://www.sedar.com or the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from The Benchmark Company, 150 East 58th Street, New York NY 10155, by email at Prospectus@benchmarkcompany.com or by phone at (212) 312 6700.
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.