Skylight Health (TSXV: SHG) is apparently looking to raise funds in the not so distant future. The company last night announced the filing of a preliminary short form base shelf prospectus, which will enable them to raise up to C$100.0 million.
The preliminary base shelf prospectus will enable the company to raise proceeds via the sale of a number of different instruments, including subscription receipts, debt securities, convertible securities, warrants, units, subordinate voting shares, restricted voting shares, and limited voting shares. The prospectus also allows for any such combination of these instruments to be sold in an offering.
While the company provided the boiler plate response of enabling “greater financial flexibility” in regards to why the prospectus was filed, CEO Prad Sekar did indicate that funds raised are to be used for both organic and inorganic growth. He then went on to state that they have “built a robust pipeline of immediately accretive and strategic targets.”
Any financing conducted under the prospectus will be subject to the filing of a prospectus supplement, wherein further details on the use of proceeds are to be provided by the company. The preliminary base shelf prospectus is valid for a period of 25 months.
Skylight Health last traded at $1.13 on the TSX Venture.
Information for this briefing was found via Sedar and Skylight Health Group. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.