HEALWELL AI Receives Written Shareholder Approval for Pending Acquisition of Orion Health and Related Financing
HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) has secured shareholder approval for its previously announced $55 million bought-deal financing and the acquisition of Orion Health Holdings . The approval was obtained through written consent from majority shareholders, eliminating the need for a special meeting.
A Schedule A Bank has granted internal risk approval for a $50 million senior secured credit facility, subject to finalizing a credit agreement. The facility will help fund the cash portion of the Orion acquisition.
The transaction involves issuing approximately 35.7 million Class A Subordinate Voting Shares at $1.61/share, totaling CA$57.4 million. The company expects to issue up to 14.7 million subscription receipts and 31,250 convertible debentures with a 10% annual interest rate. The transaction could result in issuing up to 76.4 million additional Subordinate Voting Shares at prices ranging from $1.61 to $2.50 per share.
HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ha ottenuto l'approvazione degli azionisti per il suo precedente annuncio di un finanziamento a sottoscrizione diretta di 55 milioni di dollari e per l'acquisizione di Orion Health Holdings. L'approvazione è stata ottenuta tramite consenso scritto dei principali azionisti, eliminando la necessità di una riunione speciale.
Una Banca di Classe A ha concesso approvazione interna al rischio per un prestito garantito senior di 50 milioni di dollari, subordinato alla finalizzazione di un accordo di credito. Il prestito servirà a finanziare la parte in contante dell'acquisizione di Orion.
La transazione prevede l'emissione di circa 35,7 milioni di Azioni di Classe A con diritto di voto subordinato a 1,61 dollari per azione, per un totale di 57,4 milioni di dollari canadesi. La società prevede di emettere fino a 14,7 milioni di ricevute di sottoscrizione e 31.250 obbligazioni convertibili con un tasso d'interesse annuo del 10%. La transazione potrebbe comportare l'emissione di ulteriori 76,4 milioni di Azioni con diritto di voto subordinato a prezzi che vanno da 1,61 a 2,50 dollari per azione.
HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ha asegurado la aprobación de los accionistas para su financiamiento de 55 millones de dólares a través de un acuerdo de compra y la adquisición de Orion Health Holdings. La aprobación se obtuvo mediante el consentimiento por escrito de los accionistas mayoritarios, eliminando la necesidad de una reunión especial.
Un banco de la Lista A ha otorgado aprobación interna de riesgo para una facilidad de crédito garantizada senior de 50 millones de dólares, sujeta a la finalización de un acuerdo de crédito. Esta facilidad ayudará a financiar la parte en efectivo de la adquisición de Orion.
La transacción implica la emisión de aproximadamente 35.7 millones de Acciones de Clase A con derecho a voto subordinado a 1.61 dólares por acción, totalizando 57.4 millones de dólares canadienses. La compañía espera emitir hasta 14.7 millones de recibos de suscripción y 31,250 obligaciones convertibles con una tasa de interés anual del 10%. La transacción podría resultar en la emisión de hasta 76.4 millones de Acciones de Voto Subordinado a precios que oscilan entre 1.61 y 2.50 dólares por acción.
HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF)가 이전에 발표한 5,500만 달러의 매입 거래 금융과 Orion Health Holdings 인수를 위한 주주 승인을 확보했습니다. 이 승인은 대주주들의 서면 동의를 통해 얻어져 특별 회의가 필요하지 않았습니다.
A등급 은행은 5,000만 달러의 선순위 담보 신용 시설에 대한 내부 위험 승인을 부여했으며, 최종 신용 계약 체결을 조건으로 합니다. 이 자금 조달은 Orion 인수의 현금 부분을 지원하는 데 사용될 것입니다.
이번 거래는 약 3,570만 주의 A등급 보통주를 주당 1.61달러에 발행하는 것으로, 총 5,740만 캐나다 달러에 해당합니다. 회사는 최대 1,470만 개의 구독 영수증과 31,250개의 전환사채를 연 10%의 이자율로 발행할 것으로 예상하고 있습니다. 이 거래는 주당 1.61달러에서 2.50달러 사이의 가격으로 최대 7,640만 개의 추가 보통주 발행으로 이어질 수 있습니다.
HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) a obtenu l'approbation des actionnaires pour son précédent annonce d'un financement par souscription de 55 millions de dollars et l'acquisition de Orion Health Holdings. L'approbation a été obtenue par consentement écrit des principaux actionnaires, éliminant le besoin d'une réunion spéciale.
Une Banque de Classe A a accordé une approbation interne de risque pour une facilité de crédit senior garantie de 50 millions de dollars, sous réserve de la finalisation d'un accord de crédit. Cette facilité aidera à financer la partie en espèces de l'acquisition d'Orion.
La transaction implique l'émission d'environ 35,7 millions d'actions de catégorie A à droit de vote subordonné à 1,61 dollar/action, totalisant 57,4 millions de dollars canadiens. La société prévoit d'émettre jusqu'à 14,7 millions de reçus de souscription et 31 250 obligations convertibles avec un taux d'intérêt annuel de 10%. La transaction pourrait aboutir à l'émission de jusqu'à 76,4 millions d'actions supplémentaires à droit de vote subordonné à des prix variant de 1,61 à 2,50 dollars par action.
HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) hat die Zustimmung der Aktionäre für die bereits angekündigte Finanzierung in Höhe von 55 Millionen Dollar und die Akquisition von Orion Health Holdings erhalten. Die Zustimmung wurde durch schriftliche Zustimmung der Mehrheitsaktionäre erlangt, wodurch ein außerordentliches Treffen entfiel.
Eine Schedule A-Bank hat eine interne Risikogenehmigung für eine senior gesicherte Kreditfazilität über 50 Millionen Dollar erteilt, die von der Finalisierung eines Kreditvertrags abhängt. Diese Fazilität wird helfen, den Baranteil der Orion-Akquisition zu finanzieren.
Die Transaktion umfasst die Emission von etwa 35,7 Millionen Klasse A-Voting Shares zu 1,61 Dollar pro Aktie, insgesamt 57,4 Millionen kanadische Dollar. Das Unternehmen plant, bis zu 14,7 Millionen Bezugsrechte und 31.250 wandelbare Anleihen mit einem jährlichen Zinssatz von 10% auszugeben. Die Transaktion könnte zur Ausgabe von bis zu 76,4 Millionen zusätzlichen Voting Shares zu Preisen zwischen 1,61 und 2,50 Dollar pro Aktie führen.
- Secured $55 million bought-deal financing
- Obtained $50 million credit facility approval
- Majority shareholder approval received for acquisition
- No special shareholder meeting required, streamlining the process
- Significant share dilution with up to 76.4 million new shares to be issued
- Share issuance at $1.61 represents 22.6% discount to market price
- High interest rate of 10% on convertible debentures
- The Company has obtained shareholder approval for its proposed acquisition of Orion Health and its previously announced
$55 million bought-deal financing. - The Company also announced that a Schedule A Bank has obtained internal risk approval for a senior secured credit facility in the amount of
$50 million , subject to the Company finalizing a credit agreement with the Bank. - The Company expects to complete its upsized bought deal offering later this week.
Toronto, Ontario--(Newsfile Corp. - January 14, 2025) - HEALWELL AI Inc. (TSX: AIDX) (OTCQX: HWAIF) ("HEALWELL" or the "Company"), a healthcare artificial intelligence company focused on preventative care, is pleased to announce that it has obtained shareholder approval for its previously announced
The Company also announced today that a Schedule A Bank has obtained internal risk approval to make available to the Company, at closing of the Transaction, a senior secured credit facility in the amount of
The Company is continuing to work towards completion of the upsized Offering and now expects closing to take place later this week.
Transaction Details & Shareholder Approval
The details of the Offering and the Acquisition are set out in the Company's news releases dated December 16, 2024 and December 17, 2024.
In connection with the Acquisition, the Company expects to issue approximately 35,652,174 Class A Subordinate Voting Shares ("Subordinate Voting Shares") at an issue price of
In connection with the Offering, if the underwriters' option is fully exercised, the Company expects to issue up to a maximum of (i) 14,662,500 subscription receipts of the Company (the "Subscription Receipts") for units of the Company consisting of one Subordinate Voting Share and one-half of one Subordinate Voting Share Purchase warrant (each whole warrant, a "Warrant") exercisable at a price of
The gross proceeds of the Offering, less
On closing of the Offering, the Company also expects to issue to the underwriters up to a maximum of (i) 607,333 warrants for Subordinate Voting Shares with a three-year term and an exercise price of
The Transaction is subject to the shareholder approval requirements of Sections 607(g) and 611(c) of the TSX Company Manual as: (i) the Transaction involves the issuance of Subordinate Voting Shares at less than
In total across both the Offering and the Acquisition, it is expected that the Transaction may result in the issuance of up to an additional 76,408,625 Subordinate Voting Shares at prices ranging from
In addition to the foregoing securities, a variable number of Subordinate Voting Shares may be issued in satisfaction of the Company's obligations with respect to the Variable Share Consideration at an issue price calculated with reference to the 10-day VWAP for Subordinate Voting Shares shortly before the date of payment. Because the Variable Share Consideration is based on a price to be fixed on a future date, the number of Subordinate Voting Shares issuable in satisfaction of the Variable Consideration may fluctuate. The table below shows an illustrative example of how the anticipated maximum number of Subordinate Voting Shares issuable in connection with the Transaction may vary if the share price used to satisfy the Variable Share Consideration is higher or lower than the Market Price:
| Price per Subordinate Voting Share (for Variable Share Consideration) | |||||
| Total # of Subordinate Voting Shares Issued in Transaction | 117,736,625 | 95,541,959 | 86,343,241 | 83,117,716 | 81,473,331 |
| % Dilution |
The definitive agreements for the Transaction have been and are being negotiated between the Issuer and their respective counterparties at arm's length. The Transaction is not expected to result in the creation of any new control person of the Company, however, one new individual, the vendor in the Acquisition, will become the holder of more than
Shareholders representing a majority of the voting shares of the Company have executed a written consent approving the Transaction, and the TSX has advised the Company that it will be permitted to rely on that written consent as evidence of the required majority shareholder approval in accordance with section 604(d) of the TSX Company Manual, and accordingly that it will not be required to hold a formal special shareholder meeting to seek approval of the Transaction.
Dr. Alexander Dobranowski
Chief Executive Officer
HEALWELL AI Inc.
About HEALWELL
HEALWELL is a healthcare artificial intelligence company focused on preventative care. Its mission is to improve healthcare and save lives through early identification and detection of disease. Using its own proprietary technology, the Company is developing and commercializing advanced clinical decision support systems that can help healthcare providers detect rare and chronic diseases, improve efficiency of their practice and ultimately help improve patient health outcomes. HEALWELL is executing a strategy centered around developing and acquiring technology and clinical sciences capabilities that complement the Company's road map. HEALWELL is publicly traded on the Toronto Stock Exchange under the symbol "AIDX" and on the OTC Exchange under the symbol "HWAIF". To learn more about HEALWELL, please visit https://healwell.ai/.
About ORION HEALTH
Orion Health is a global healthcare technology company focused on reimagining healthcare for all. Orion Health is leading the change in digital health with health and care organizations to improve the wellbeing of every individual with our world leading Unified Healthcare Platform. Made up of a Virtuoso digital front door, Amadeus digital care record, and Orchestral health intelligence platform - each underpinned by extensive health and social data sets, machine learning, and 30 years of innovation focused purely on improving global well-being. www.orionhealth.com.
Forward Looking Statements
Certain statements in this press release, constitute "forward-looking information" and "forward looking statements" (collectively, "forward looking statements") within the meaning of applicable Canadian securities laws and are based on assumptions, expectations, estimates and projections as of the date of this press release. Forward-looking statements in this press release include statements with respect to, among other things, the closing of the Acquisition and the terms on which it is expected to be completed (including the number of Subordinate Voting Shares that may be issued in respect of the Variable Share Consideration), the anticipated timing to close the upsized Offering, and the ability of the Company to forego a shareholder meeting in respect of the Acquisition. Forward-looking statements are often, but not always, identified by words or phrases such as "expect", "creation", "anticipated", "illustrative", "pending", "subject to", "continuing to" or variations of such words and phrases or statements that certain future conditions, actions, events or results "will", "may", "could", "would", "should", "might" or "can" be taken, occur or be achieved, or the negative of any of these terms . Forward-looking statements are necessarily based upon management's perceptions of historical trends, current conditions and expected future developments, as well as a number of specific factors and assumptions that, while considered reasonable by HEALWELL as of the date of such statements, are outside of HEALWELL's control and are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in the forward-looking statements ultimately being entirely or partially incorrect or untrue. Forward looking statements contained in this press release are based on various assumptions, including, but not limited to, the following: the parties' ability to satisfy any remaining conditions precedent to completion of the Acquisition and/or the Offering, including receipt of all outstanding regulatory approvals; HEALWELL's ability to complete the Acquisition and/or the Offering, or to complete them on the terms contemplated; the quantum of the working capital adjustment, deferred purchase price and earn-out amounts that may become due under the Acquisition and whether those amounts will be paid in whole or in part in Subordinate Voting Shares; the Company's ability to successfully negotiate and enter into definitive agreements for a credit facility with a Schedule A bank, and the terms on which that facility may be implemented; the Company's ability to access other sources of debt and equity financing and the terms on which such financing may be provided; the Company's ability to integrate acquired businesses, products and services with its own; the potential for third parties to object to the written shareholder consent obtained by the Company; the stability of general economic and market conditions; HEALWELL's ability to comply with applicable laws and regulations; HEALWELL's continued compliance with third party intellectual property rights; and that the risk factors noted below, collectively, do not have a material impact on HEALWELL's business, operations, revenues and/or results. By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved.
Known and unknown risk factors, many of which are beyond the control of HEALWELL, could cause the actual results of HEALWELL to differ materially from the results, performance, achievements, or developments expressed or implied by such forward-looking statements. Such risk factors include but are not limited to those factors which are discussed under the section entitled "Risk Factors" in HEALWELL's most recent annual information form dated April 1, 2024, which is available under HEALWELL's SEDAR+ profile at www.sedarplus.com. The risk factors are not intended to represent a complete list of the factors that could affect HEALWELL and the reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. HEALWELL disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law. All of the forward-looking statements contained in this press release are qualified by these cautionary statements.
For more information:
Pardeep S. Sangha
Investor Relations, HEALWELL AI Inc.
Phone: 604-572-6392
ir@healwell.ai
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237125
FAQ
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