Wellness Platform LifeSpeak Closes $125 Million IPO

Digital wellness platform LifeSpeak Inc. (TSX: LSPK) closed its initial public offering Tuesday at the Toronto Stock Exchange. The company started trading its common shares on the Canadian big board under the symbol “LSPK”.

Through the offering, the company was able to raise an aggregate sum of $125.0 million from issuing 12.5 million common shares at $10.00 per share. The aggregate shares issued consist of 9.0 million shares of the company and 3.0 million shares of selling shareholders.

LifeSpeak offers software-as-a-service programs geared towards mental health and wellness for employees of mid-sized to large companies.

The offering was made through a syndicate of underwriters led by RBC Capital Markets, Canaccord Genuity Corp., and Scotiabank, as underwriters. The underwriters were also given an over-allotment option to purchase an additional 1.875 million common shares at the same share price within 30 days from the closing date.

LifeSpeak last traded at $8.50 on the TSX.

Information for this briefing was found via Sedar and LifeSpeak. 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.

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