Business
LevelJump Healthcare Corp. Announces New Preferred Share Offering
Toronto, Ontario--(Newsfile Corp. - November 28, 2023) - LevelJump Healthcare Corp. (TSXV: JUMP) ...
About this update from Leveljump Healthcare Corp.
[{"type":"text","content":"LevelJump Healthcare Corp. Announces New Preferred Share OfferingToronto, Ontario--(Newsfile Corp. - November 28, 2023) - LevelJump Healthcare Corp. (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) (\"LevelJump\" or the \"Company\"), a Canadian leader in B2B telehealth solutions, wishes to announce the following:The Company has applied to the TSX Venture Exchange (the \"Exchange\") to update its preferred share unit offering. The Company has applied for the updated offering so that it may issue preferred share units (the \"Units\") as part of the consideration payable for the completed Alberta Acquisitions as well as working capital.Subject to Exchange approval, the Company plans to sell up to 5,000,000 Units at $1 per Unit, which consists of (i) one (1) common share of LevelJump (\"Common Share\"), at an issue price of $0.10 per Common Share; and (ii) one (1) 12% cumulative redeemable convertible Class A Series 1 preferred share (\"Preferred Share\"), at an issue price of $0.90 per Preferred Share. Each Preferred Share is non-voting, carries a cumulative annual dividend of 12% payable quarterly, along with a top up dividend of 25% of the portion of LevelJump's EBITDA that is above $2,000,000 per year, divided by the then outstanding Preferred Shares. The Preferred Shares are redeemable on the fifth anniversary (the \"Redemption Date\") after issuance at a price of $1.00 per Preferred Share (or at a price of $1.10 per Preferred Share if redeemed any time prior to the Redemption Date) together with all accrued and unpaid dividends. The Preferred Shares are also convertible, prior to being redeemed or called, into common shares of the Company at a price of $0.20 per Common Share. Subject to applicable law and to certain exceptions, LevelJump may, at any time prior to the Redemption Date, purchase for cancellation all or any number of the Preferred Shares outstanding from time to time at any price in the open market if they are listed or posted for trading on a stock exchange or by tender available to all of holders of Preferred Shares or by private agreement or otherwise.To date, the Company has sold 2,094,000 units in prior offerings. The balance of the offering will be sold primarily to accredited investors pursuant to exemptions under applicable securities laws.About LevelJump HealthcareLevelJump Healthcare Corp., (TSXV: JUMP) provides t...