SLHG - Skylight Health Group slumps on pricing ~$5.8M preferred stock offering

Skylight Health Group (NASDAQ:SLHG) is down 8.24% pre-market after pricing its public offering of 275,000 shares of its 9.25% Series A Cumulative Redeemable Perpetual Preferred Shares at $21/share. Underwriters have been granted a 30-day option to purchase up to 41,250 additional shares of Series A Preferred Stock from the company, exercisable in whole or in part, solely to cover over-allotments, at the public offering price less the underwriting discount. Gross proceeds is estimated to be ~$5.8M. The Series A Preferred Stock will begin trading on the NASDAQ Capital Market on December 2, 2021, under the symbol "SLHGP." Closing date is expected to be on or about December 6, 2021.

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Skylight Health Group slumps on pricing ~$5.8M preferred stock offering