SLHG - SLHG STOCK NEWS

Skylight Health Group (NASDAQ:SLHG) has successfully closed its underwritten offering of 275,000 Series A Preferred Shares at $21 per share, raising gross proceeds of $5,775,000. The funds will support working capital, corporate activities, and potential mergers & acquisitions. The Series A Preferred Shares will trade under the symbol 'SLHGP' on the Nasdaq Capital Market, and the offering was conducted under the shelf registration statement approved by the SEC.

Skylight Health Group has announced the pricing of its public offering of 275,000 shares of 9.25% Series A Cumulative Redeemable Perpetual Preferred Shares at $21 each, aiming to raise about $5.8 million before expenses. Trading will commence on NASDAQ under the symbol 'SLHGP' on December 2, 2021, with the offering expected to close around December 6, 2021. The company has granted underwriters a 30-day option to purchase up to 41,250 additional shares for over-allotments. The offering is facilitated under the company's effective registration statements with the SEC.

Skylight Health Group (NASDAQ:SLHG; TSXV:SLHG) will present at the Benchmark Company’s Discovery One on One Virtual Video Investor Conference on December 2, 2021. The company operates a multi-state primary care network in the U.S., focusing on enhancing patient outcomes through value-based care. This shift from a fee-for-service model to value-based care aims to improve service quality while reducing costs. The conference will feature dynamic publicly traded micro-cap companies, providing a platform for Skylight Health to showcase its innovative healthcare approach.

Skylight Health Group (SLHG) reported a remarkable 269% increase in revenue year over year, totaling $12.2 million for Q3 2021, alongside a 16% sequential growth. The company's organic growth of approximately 8% was attributed to improved operations following recent acquisitions. However, there was an Adjusted EBITDA loss of $2.6 million. A net loss of $3.9 million was reported, including substantial non-cash and professional fees. Skylight Health is focused on ongoing integrations and expanding its practice acquisitions, aiming for future value-based care initiatives.

Skylight Health Group (NASDAQ:SLHG) announced a proposed underwritten public offering of Series A Cumulative Redeemable Perpetual Preferred Shares with a 9.25% cumulative dividend. The shares are redeemable at $25.00 after three years. Skylight plans to use net proceeds for potential acquisitions, expanding primary and sub-specialty services, and working capital. The Series A Preferred Shares will be listed on NASDAQ under the symbol 'SLHGP'. The offering is subject to NASDAQ approval and market conditions.

Skylight Health Group (NASDAQ:SLHG) will release its third-quarter financial results on November 15, 2021, after market close. A conference call is scheduled for November 16, 2021, at 8:00 AM EDT to discuss the results. Additionally, the company will issue 101,738 shares related to its previous acquisition of River City Medical Associates, subject to a four-month hold and TSX-V approval. Skylight aims to improve patient health outcomes through a multi-state primary care network, assisting independent practices in transitioning to value-based care.

On October 29, 2021, Skylight Health Group (NASDAQ: SLHG) announced a definitive agreement to divest 100% of its legacy businesses, Canna Care Docs and Relaxed Clarity, to New Frontier Data for USD $8,628,000. The sale includes an immediate cash payment of USD $4,000,000, with the remainder paid over three installments. This divestiture allows Skylight to concentrate on traditional healthcare and value-based primary care models. The transaction is expected to close by November 30, 2021, subject to customary conditions.

Skylight Health Group (NASDAQ:SLHG) has appointed Greg Sieman as the new Senior Vice President of Marketing and Communications. Sieman brings extensive experience from Oak Street Health and Lifespace Communities, where he significantly increased patient acquisition. His focus will be on fostering organic growth in value-based care, particularly within Medicare and Medicare Advantage. CEO Prad Sekar emphasizes that Sieman's commitment to accessible healthcare aligns with Skylight's mission to improve patient outcomes while reducing costs.

Skylight Health Group (NASDAQ: SLHG) announced a Participation Provider Contract with a national healthcare organization, enhancing its engagement in a Direct Contracting Entity (DCE) model. This partnership, effective January 2022, marks a significant upgrade from the previous Accountable Care Organization (ACO) model. Skylight expects improved care and benefits for Medicare patients, with added capitation revenues and risk-sharing opportunities. The DCE will allow Skylight to leverage advanced healthcare infrastructure, serving over 200,000 patients annually.