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Vitalhub Corp (2)
Symbol VHI
Shares Issued 37,029,838
Close 2022-03-30 C$ 3.40
Recent Sedar Documents

Vitalhub arranges $17.5-million bought deal

2022-03-31 11:25 ET - News Release

An anonymous director reports

VITALHUB CORP. ANNOUNCES $17.5 MILLION BOUGHT DEAL PUBLIC OFFERING

Vitalhub Corp. has entered into an agreement with Cormark Securities Inc. and Eight Capital, acting as co-lead underwriters on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase 5,645,200 common shares from the treasury of the company at a price of $3.10 per common share for total gross proceeds of approximately $17.5-million.

In addition, the company has granted to the underwriters an option to purchase up to an additional 15 per cent of the common shares of the offering on the same terms, exercisable at any time up to 30 days following the closing of the offering, for market stabilization purposes and to cover overallotments, if any.

The net proceeds of the offering shall be used for growth initiatives, working capital and general corporate purposes.

The closing of the offering is expected to occur on or about April 21, 2022, and is subject to regulatory approval, including that of the Toronto Stock Exchange.

The common shares to be issued under the offering will be offered by way of a short form prospectus to be filed in each province of Canada, except Quebec, and may be offered in the United States on a private placement basis, pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws, and in certain other jurisdictions outside of Canada and the United States.

About Vitalhub Corp.

Vitalhub provides technology to health and human service providers, including: hospitals, regional health authorities, mental health, long-term care, home health, community and social services. Vitalhub solutions span the categories of: electronic health record; case management; care co-ordination; patient flow and operational visibility; and DOCit mobile apps.

The company has a robust two-pronged growth strategy: (i) targeting organic growth opportunities within its product suite; and (ii) pursuing an aggressive M&A (mergers and acquisitions) plan. Currently, Vitalhub serves greater than 275 clients across Canada, the United States, the United Kingdom, Australia, Qatar and Latvia. Vitalhub is based in Toronto, Canada, with an offshore development hub in Sri Lanka.

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