Skylight Health Sees Minimal Interest For Preferred Shares, Offering Pegged At Just US$5.8 Million

It appears that there is little interest for Skylight Health’s (TSXV: SLHG) previously proposed offering of Series A redeemable perpetual preferred stock. The firm this morning announced that final pricing of the offering, at a significantly reduced figure from what was proposed several weeks ago.

Under the offering, the firm will look to sell 9.25% Series A Cumulative Redeemable Perpetual Preferred Shares, with the offering to consist of just 275,000 shares. Priced at US$21.00 per share, the preferreds are being sold at a discount to the proposed US$25.00 redemption price per share figure, while raising just US$5.8 million from the equity sale.

Dividends on the preferred are expected to be paid monthly, with filings indicating that the shares represent a fixed annual dividend amount of $2.3125 per share.

An over-allotment option has also been granted in connection with the offering, which is good for the sale up to 41,250 shares under the offering.

Once issued, the shares are expected to trade on the Nasdaq Capital Market under the symbol “SLHGP”. The financing is currently slated to close December 6.

Skylight Health last traded at $2.20 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. 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.

2 thoughts on “Skylight Health Sees Minimal Interest For Preferred Shares, Offering Pegged At Just US$5.8 Million

  • December 2, 2021 9:02 AM at 9:02 am

    you guys are absolute clowns

    • December 3, 2021 1:12 PM at 1:12 pm

      Thanks for reading!


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