Leveljump Healthcare Care (TSXV: JUMP) is set to begin trading this morning, the latest firm to hit the TSX Venture exchange. The company, whom recently acquired Canadian Teleradiology Services, is focused on providing telemedicine services to client hospitals and imaging centres.
The firms go public transaction follows the company successfully raising $3.9 million in cash proceeds, with funds raised at a price of $0.45 per subscription receipt, consisting of one unit of the company. Each unit under the receipt contained one common share and one common share purchase warrant. Warrants contain an exercise price of $0.50, and are valid for a period of 36 months from the date of listing.
The financing also contained an additional $0.5 million, which brought the financing to an effective $4.4 million, with the additional portion consisting of a debt conversion. Following the close of the transaction, a portion of proceeds were used to retire a royalty interest that was owed by the firms subsidiary.
“Today is a very exciting day as we begin trading on the TSXV. With cash flow positive operations, a clean balance sheet and the support of the investment community, we look forward to growing the Company and executing our vision. Diagnostic Imaging is an invaluable part of our healthcare system and we have established ourselves at the forefront of this space, ensuring communities have the best patient care.”
Mitch Geisler, CEO of Leveljump Healthcare
The remainder of the funds from the financing conducted have been earmarked for strategic acquisitions, such as that of independent healthcare facilities that are focused on diagnostic imaging and new imaging tech, as well as general working capital and corporate purposes.
Leveljump Healthcare last traded at $0.47 on the TSX Venture.
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