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HEALWELL AI Announces Upsize in Bought Deal Offering to $55 Million

Dec 17, 2024 - financialpost.com
HEALWELL AI Inc., a data science and AI company focused on preventative care, announced an upsized bought deal offering of $55 million. The offering includes 12,500,000 subscription receipts at $2.00 each and 31,250 convertible debentures at $960 each. The proceeds will be used to fund the acquisition of Orion Health Holdings Limited. The subscription receipts will convert into shares and warrants upon meeting certain conditions, while the convertible debentures will bear a 10% annual interest and are convertible into shares at $2.40 each. The offering is expected to close on January 7, 2025, pending necessary approvals.

HEALWELL's acquisition strategy aims to enhance its technology and clinical sciences capabilities. The company is publicly traded on the Toronto Stock Exchange and the OTC Exchange. The transaction and offering require shareholder approval due to the significant number of shares involved. The company emphasizes the forward-looking nature of its statements, acknowledging potential risks and uncertainties that could impact outcomes.

Key takeaways:

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  • HEALWELL AI Inc. has announced an upsized bought deal offering of $55 million, involving the sale of subscription receipts and convertible debentures.
  • The offering is intended to partially fund the acquisition of Orion Health Holdings Limited, subject to shareholder and regulatory approvals.
  • Subscription Receipts will convert into shares and warrants upon meeting certain conditions, while Convertible Debentures are convertible into shares at a specified price.
  • The offering is expected to close on or about January 7, 2025, pending Toronto Stock Exchange approval.
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