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 Responses

Video Articles

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Resources Intersects Further Mineralization At El Cura, Expanding Deposit

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

Related News

Skylight Health Acquires Colorado Based Primary Care Clinic Group

Skylight Health (TSXV: SHG) this morning announced the closing of the acquisition of Rocky Mountain...

Monday, April 5, 2021, 09:01:08 AM

Skylight Health: Echelon, Beacon Securities Initiate Coverage On Firm

Last week Echelon Wealth Partners and Beacon Securities both initiated coverage on Skylight Health Group...

Sunday, December 13, 2020, 01:45:00 PM

Skylight Health To Wind Down What Little Remains Of Operations After Foreclosure

After seeing its lenders foreclosure on certain of its US operations, Skylight Health (TSXV: SLHG)...

Thursday, August 31, 2023, 09:49:34 AM

Skylight Health To Conduct $12 Million Bought Deal

Skylight Health Group Inc. (TSXV: SHG) announced last night that it will be conducting a...

Wednesday, May 19, 2021, 08:58:41 AM

Skylight Health Commences Trading On The Nasdaq

Skylight Health Group (TSXV: SLHG) (NASDAQ: SLHG) announced Friday night that its equity is set...

Monday, June 7, 2021, 07:27:13 AM