TORONTO, Sept. 16, 2022 (GLOBE NEWSWIRE) — Skylight Health Group Inc. TSXV (“Skylight Health” or the “Company”), a multi-state primary care management group in the United States, announced that its Board of Directors has approved a dividend on its 9.25% cumulative redeemable Series A and announced the Company has perpetual preferred stock (the “Series A Preferred Stock”) for the month of October 2022. The Series A Preferred Stock trades under the stock ticker symbol “SLHGP.”
Under the terms of the Series A Preferred stock, the Series A dividend will be paid on October 20, 2022 in cash at a rate of $0.1927 per share to Series A Preferred stockholders of record as of the dividend record date of 09/28/2022.
The Company has granted directors of the Company an aggregate of 253,740 Deferred Share Units (“DSU”) and 397,436 Restricted Share Units (“RSU”) to meet a portion of their annual compensation pursuant to the Company’s Omnibus Equity Incentive Plan. Each RSU entitles the holder to purchase one common share of Skylight Health Group (the “Common Shares”) upon vesting. The RSUs will vest on September 16, 2023. The prices of the RSUs and DSUs are based on the Company’s stock price at the market close on September 14, 2022 of $0.67. The DSU and RSU awards are subject to all necessary regulatory approvals.
Finally, pursuant to the terms and subject to the terms of the Debt Settlement Agreements, the Company will issue an additional aggregate of 845,351 common shares (each a “Common Share”) at a deemed price of $0.70 per Common Share to settle the Debt. The issuance of common shares to creditors pursuant to the Debt Settlement Agreement is subject to TSX Venture Exchange approval. The common shares are subject to a statutory resale restriction expiring four months and one day from the date of issue under applicable securities laws. All…
