Saturday, May 31, 2025

Latest

Well Health Looks To Raise $30 Million At $3.70 Per Share

Never wanting to put a good cash-producing opportunity to waste, Well Health (TSX: WELL) this morning announced it intends to conduct another financing. The financing comes on the heels of the firm last night reporting Q1 revenues of $126.5 million, and a net loss of $2.3 million.

The financing will see the company conduct a bought deal, lead by Eight Capital and Stifel GMP. The company is looking to raise $30.0 million in gross proceeds, at a price of $3.70 per share. No warrant is being offered under the financing.

Lead orders for the financing are said to come from Li Ka-shing, a Hong Kong based investor, as well as from a larger international sovereign wealth fund. The size of said lead orders was not provided.

An over-allotment option has also been granted in connection with the financing.

Proceeds from the financing are said to be used for growth initiatives, including potential acquisitions of specialty clinics and health opportunities, as well as for working capital and general corporate purposes.

The financing is currently expected to close by May 19.

The company reported a cash position of $36.1 million as of March 31 last night, down from $61.9 million at the start of the quarter. The financing follows a $70 million bought deal offering of convertible debentures completed at the end of November, as well as the announcement of a normal course issuer bid just last month, when the company said it viewed its shares as being undervalued. The company was trading at $4.39 per share at the time.

Well Health last traded at $3.71 on the TSX.


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.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

WELL Health Provides Corporate and COVID-19 Update

WELL Health Technologies Corp (TSX: WELL) has released its corporate update, in addition to providing a...

Friday, March 13, 2020, 02:03:52 PM

Well Health, Hut 8 Mining Removed From S&P/TSX Composite In Favor Of Energy Firms

In the words of Bob Dylan, the times they are a-changin’. It appears that Canadian...

Saturday, June 4, 2022, 11:05:00 AM

WELL Health Closes US$372.9 Acquisition Of CRH Medical

WELL Health Technologies (TSX: WELL) last night announced the closing of its transaction to acquire...

Friday, April 23, 2021, 07:16:26 AM

Well Health Posts Q4 Revenues Of $115.7 Million, Positive Net Income

Well Health (TSX: WELL) this morning reported its fourth quarter financial results, posting Q4 revenues...

Thursday, March 31, 2022, 08:04:20 AM

Well Health Digs For Positive News, Highlights Subsidiary Revenues Worth 0.9% Of Current Run Rate

Well Health (TSX: WELL) was apparently itching to put out news this morning. That much...

Thursday, February 17, 2022, 07:59:55 AM