VitalHub To Raise Up To $12 Million In Bought Deal Financing

VitalHub Corp (TSXV: VHI) announced this morning that it will be conducting a financing via a syndicate of underwriters. Led by Cormark Securities, the syndicate intends to raise up to $12.0 million for the health tech provider on a bought deal basis.

The financing is being conducted at a price of $1.80 per unit, with each unit consisting of one common share. No warrant is included with the raise. The syndicate is looking to sell up to 6,700,000 units within the financing, for gross proceeds of $12.0 million. A 15% over-allotment option is also available for up to 30 days following the close of the transaction.

Vitalhub intends to use the proceeds of the financing for growth initiatives, working capital, and general corporate purposes. The financing is expected to close by March 12, 2020.

Vitalhub last traded at $1.98 on the TSX Venture.


The author has no securities or affiliations related to any organization mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Ontario Opening Doors to Video Based Telemedicine and Digital Practices

In a news release earlier this month from the Province of Ontario, an announcement slid...

Sunday, November 24, 2019, 09:30:02 AM