WELL Health Announces $65 Million Bought Deal Offering of Convertible Debentures
15 Novembre 2021 - 11:08PM
WELL Health Technologies Corp. (TSX: WELL) (“
WELL”
or the “
Company”) is pleased to announce that it
has entered into an agreement pursuant to which Eight Capital and
Scotiabank as joint bookrunners, together with a syndicate of
underwriters including Stifel GMP as co-lead underwriter with Eight
Capital and Scotiabank (collectively, the
“
Underwriters”), will purchase, on a bought deal
basis, $65 million aggregate principal amount of convertible senior
unsecured debentures of the Company due December 31, 2026 (the
“
Debentures”) at a price of $1,000 per Debenture
(the “
Offering”). The Debentures will have a
coupon of 5.50% per annum, and a conversion price of $9.23 per WELL
common share, subject to adjustments in certain circumstances.
The Company has agreed to grant the Underwriters
an over-allotment option to purchase up to an additional $5 million
aggregate principal amount of the Debentures at a price of $1,000
per Debenture, exercisable in whole or in part, at any time on or
prior to the date that is 30 days following the closing of the
Offering. If this option is exercised in full, the aggregate
proceeds of the Offering will be $70 million.
The Company has received an indication of
interest for a lead order in connection with the Offering from a
large Canadian pension fund manager.
The Company intends to use the net proceeds of
the Offering to fund growth initiatives, including to complete
potential future acquisitions, to repay indebtedness, and for
working capital and general corporate purposes.
The closing date of the Offering is scheduled to
be on or about November 25, 2021 and is subject to certain
conditions including, but not limited to, the receipt of all
necessary approvals, including the approval of the Toronto Stock
Exchange and the applicable securities regulatory authorities.
The Offering will be completed by way of a
prospectus supplement (the “Supplement”) to the
short form base shelf prospectus of the Company dated September 22,
2021 (the “Base Prospectus”), which Supplement is
expected to be filed with the securities commissions and other
similar regulatory authorities in each of the provinces and
territories of Canada, other than Quebec, on or prior to November
17, 2021. The Base Prospectus and, once filed, the Supplement can
be found on SEDAR at www.sedar.com, and contain important detailed
information about the Offering.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and may not
be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
United States Securities Act of 1933, as amended, and
applicable state securities laws.
WELL HEALTH TECHNOLOGIES
CORP.Per: “Hamed Shahbazi”
Hamed
ShahbaziChief Executive Officer, Chairman and Director
About WELL Health Technologies
Corp.
WELL is a technology enabled healthcare company
whose overarching objective is to positively impact health outcomes
to empower and support healthcare practitioners and their patients.
WELL has built an innovative practitioner enablement platform that
includes comprehensive end to end practice management tools
inclusive of virtual care and digital patient engagement
capabilities as well as Electronic Medical Records (EMR), Revenue
Cycle Management (RCM) and data protection services. WELL uses this
platform to power healthcare practitioners both inside and outside
of WELL's own omni-channel patient service offerings. WELL owns and
operates Canada's largest network of outpatient medical clinics
serving primary and specialized healthcare services and is the
provider of a leading multi-national multi-disciplinary telehealth
offering. WELL is publicly traded on the Toronto Stock Exchange
under the symbol "WELL" and is part of the TSX Composite Index. To
learn more about the company, please visit: www.well.company
Notice Regarding Forward Looking
InformationCertain statements in this news release related
to the Company are forward-looking statements and are prospective
in nature. Forward-looking statements are not based on historical
facts, but rather on current expectations and projections about
future events, and are therefore subject to risks and uncertainties
which could cause actual results to differ materially from the
future results expressed or implied by the forward-looking
statements. These statements generally can be identified by the use
of forward-looking words such as “may”, “should”, “could”,
“intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or
“continue”, or the negative thereof or similar variations.
Forward-looking statements in this news release include statements
regarding the prospective lead order and the intended use of
proceeds of the Offering. There are numerous risks and
uncertainties that could cause actual results and WELL’s plans and
objectives to differ materially from those expressed in the
forward-looking information, including: (i) adverse market
conditions; (ii) risks inherent in the primary healthcare sector in
general; (iii) that the proceeds of the Offering may need to be
used other than as set out in this news release and other factors
beyond the control of the Company. Actual results and future events
could differ materially from those anticipated in such information.
These and all subsequent written and oral forward-looking
information are based on estimates and opinions of management on
the dates they are made and are expressly qualified in their
entirety by this notice. Except as required by law, the Company
does not intend to update these forward-looking statements.
Neither the Toronto Stock Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the Toronto Stock Exchange) accepts responsibility for the
adequacy or accuracy of this release.
For further information Jamil
NathooSVP Capital Markets and Investor
Relationsinvestor@well.company604-628-7266
WELL Health Technologies (TSX:WELL)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
WELL Health Technologies (TSX:WELL)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024