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.
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.
