TORONTO, Sept. 16, 2022 (GLOBE NEWSWIRE) — Skylight Health Group Inc. (NASDAQ: TSXV: SLHG) (“Skylight Health” or the “Company”), a multi-state major care administration group within the United States, introduced that its Board of Directors has approved, and the Company has declared, a dividend on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Shares (the “Series A Preferred Shares”) for the month of October 2022. The Series A Preferred Shares commerce underneath the “SLHGP” inventory ticker image.
In accordance with the phrases of the Series A Preferred Shares, the Series A dividend will likely be payable in money within the quantity of $0.1927 per share on October 20, 2022 to the shareholders of document of the Series A Preferred Stock as of the dividend document date of September 28, 2022.
The firm has granted an mixture of 253,740 Deferred Share Units (“DSU”) and 397,436 Restricted Share Units (“RSU”) to Directors of the Company in accordance with the Company’s Omnibus Equity Incentive Plan in satisfaction of a portion of their annual compensation. Each RSU entitles the holder to amass one widespread share of Skylight Health Group (the “Common Shares”) on vesting. The RSUs vest on September 16, 2023. The RSUs and DSUs had been priced based mostly on the Company’s share worth at market shut on September 14, 2022 of $0.67. The DSU and RSU awards are topic to all obligatory regulatory approval.
Finally, pursuant to the phrases and topic to the situations of the Debt Settlement Agreements, the Company will problem an extra mixture of 845,351 widespread shares (every a “Common Share”) to the Creditors at a deemed worth of $0.70 per Common Share, in satisfaction of the Debt. The issuance of the Common Shares to the Creditors pursuant to the Debt Settlement Agreement is topic to the approval of the TSX Venture Exchange. The Common Shares will likely be topic to a statutory resale restriction which is able to expire 4 months and sooner or later from the date of issuance in accordance with relevant securities legal guidelines. All shares are topic to 4 months maintain interval.
About Skylight Health Group
Skylight Health Group (TSXV:SLHG) is a healthcare platform within the United States using software program and companies to transition sufferers right into a value-based care mannequin and drive higher well being outcomes and experiences. The Company operates a multi-state well being community comprised of bodily practices that present companies from major care, sub-specialty, allied well being, and laboratory and diagnostic testing. The Company focuses on transitioning small and impartial practices from a standard fee-for-service (FFS) mannequin to value-based care by means of instruments together with proprietary expertise, knowledge analytics and infrastructure. In an FFS mannequin, payors (industrial and authorities insurers) reimburse on an encounter-based strategy. This places a give attention to quantity of sufferers per day. In a value-based care mannequin, the suppliers provide care that’s geared toward protecting sufferers wholesome and decrease pointless well being expenditures that aren’t confirmed to take care of the affected person’s well-being. This locations an emphasis on high quality over quantity. Through this mannequin, Skylight Health is ready to enhance affected person outcomes, cut back price of supply, and drive stronger monetary efficiency.
Forward Looking Statements
This press launch could embody predictions, estimates or different data that may be thought of forward-looking throughout the that means of relevant securities legal guidelines. While these forward-looking statements characterize our present judgments, they’re topic to dangers and uncertainties that would trigger precise outcomes to vary materially. You are cautioned to not place undue reliance on these forward-looking statements, which mirror our opinions solely as of the date of this launch. Please remember the fact that we aren’t obligating ourselves to revise or publicly launch the outcomes of any revision to those forward-looking statements in mild of latest data or future occasions. When used herein, phrases reminiscent of “look forward,” “believe,” “continue,” “building,” or variations of such phrases and related expressions are meant to determine forward-looking statements. Factors that would trigger precise outcomes to vary materially from these contemplated in any forward-looking statements made by us herein are sometimes mentioned in filings we make with the Canadian securities regulators, and Canadian Securities Administrators, out there at www.sedar.com, and on our web site, at skylighthealthgroup.com.
For extra data, please go to our web site or contact:
Investor Relations:
Jackie Kelly
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416-301-2949
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that time period is outlined within the insurance policies of the TSX Venture Exchange) accepts accountability for the adequacy or accuracy of this launch.
