Chicago, Dec. 2 – Skylight Health Group Inc. sold $6.875 million of 9.25% $25-par series A cumulative redeemable perpetual preferreds at $21.00 per share, according to a press release.
The 275,000 shares will be listed on the Nasdaq as “SLHGP.”
Dividends of $2.3125 per share per year will be payable monthly.
The shares can be redeemed in whole or in part starting in 2024.
Benchmark Co. is the bookrunner.
Aegis Capital Corp. is the lead manager.
The underwriters have been granted a 30-day option to purchase up to 41,250 additional shares.
Proceeds will be used for possible acquisitions of clinical and medical services businesses, establishing primary care and sub-specialty services within existing facilities, including human resources and capacity development and working capital.
Skylight is a health care services and technology company with executive offices in Canada.
| Issuer: | Skylight Health Group Inc.
|
| Amount: | $6.875 million, or 275,000 shares
|
| Greenshoe: | $1,031,250, or 41,250 shares
|
| Securities: | Series A cumulative redeemable perpetual preferred stock
|
| Maturity: | Perpetual
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| Bookrunner: | Benchmark Co.
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| Lead manager: | Aegis Capital Corp.
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| Dividend: | 9.25%, payable monthly
|
| Price: | $21.00
|
| Liquidation preference: | $25.00
|
| Call features: | Starting Dec. 3, 2024, in whole or in part at par
|
| Trade date: | Dec. 2
|
| Settlement date: | Dec. 6
|
| Distribution: | SEC registered
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| Listing: | Nasdaq: SLHGP
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