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Skylight Health Closes Final Tranche of Previously Announced US$5M Financing
Skylight Health Closes Final Tranche of Previously Announced US$5M Financing.
About this update from Skylight Health Group Inc.
[{"type":"text","content":"\n TORONTO, Dec. 20, 2022 (GLOBE NEWSWIRE) -- Skylight Health Group Inc. (TSXV:SLHG; OTCQX: SLHGF) (“Skylight Health” or the “Company”), a healthcare platform combining technology and analytics, focused on transitioning patients into value-based care to drive better health outcomes and experiences in the United States, today announces the closing of the final tranche of the previously announced US$5 million financing in the form of convertible debentures (“Financing”). The final tranche brings in US$1,628,000 structured in the form of a 0% interest, asset-backed convertible debenture. Each debenture shall be in the principal amount of C$1,000. Each debenture shall be convertible into 1,111 common shares of the Company at C$0.90 (“Common Shares”). Upon issuance of the debenture, the holder shall also receive 1,111 share purchase warrants (the “Warrants”) of the Company. Each Warrant entitles the holder to purchase one Common Share (a “Warrant Share”) at a price of C$0.64, repriced from previously disclosed $0.90, for a period of 5 years from the date of issuance of the Debentures. Skylight has the option to repay the debt at any time at their election, without penalty, regardless of the share price. Northland Capital Markets acted as the sole placement agent for the financing. In connection with the financing, the Company paid a 7% cash finder’s fee to Northland. The convertible debentures, warrants and the repricing of warrants are subject to final approval from the TSX Venture Exchange and all securities are subject to a standard four month plus one day hold period. About Skylight Health Group  Skylight Health Group (TSXV:SLHG; OTCQX: SLHGF) is a healthcare services and technology company, working to positively impact patient health outcomes. The Company operates a US multi-state primary care health network comprised of physical practices providing a range of services from primary care, sub-specialty, allied health, and laboratory/diagnostic testing. The Company is focused on helping small and independent practices shift from a traditional fee-for-service (“FFS”) model to value-based care (“VBC”) through tools including proprietary technology, data analytics and infrastructure. In an FFS model, payors (commercial and gover...