Quipt Announces Proceeds From Exercise of Warrants
July 08 2021 - 8:00AM
Quipt Home Medical Corp. (“
Quipt” or the
“
Company”) (NASDAQ:QIPT; TSXV:QIPT), a U.S. based
leader in the home medical equipment industry, focused on
end-to-end respiratory care, is pleased to announce that as a
result of the exercise of common share purchase warrants at
CAD$6.40 per share, originally issued by the Company in June 2020
pursuant to its previously announced bought deal prospectus
offering and concurrent private placement, the Company has issued
an aggregate of 3,389,825 common shares in consideration for $17.5
million (CAD$21.7 million). All common shares, other than 969,000,
have been issued since April 1, 2021. Accordingly, the Company now
has 33,102,529 common shares issued and outstanding.
“We believe that the warrant exercises are
indicative of overwhelming support from our shareholders for the
future of Quipt and our vision for growing into a national durable
medical equipment provider focused on superior patient care,” said
Greg Crawford, Chairman and CEO of Quipt. “We have the strongest
balance sheet in the history of our company and look forward to
executing on our robust acquisition plans for the remainder of the
year.”
ABOUT QUIPT HOME MEDICAL
CORP.
The Company provides in-home monitoring and
disease management services including end-to-end respiratory
solutions for patients in the United States healthcare market. It
seeks to continue to expand its offerings to include the management
of several chronic disease states focusing on patients with heart
or pulmonary disease, sleep disorders, reduced mobility and other
chronic health conditions. The primary business objective of the
Company is to create shareholder value by offering a broader range
of services to patients in need of in-home monitoring and chronic
disease management. The Company’s organic growth strategy is to
increase annual revenue per patient by offering multiple services
to the same patient, consolidating the patient’s services and
making life easier for the patient.
Forward-Looking Statements
Certain statements contained in this press
release constitute “forward-looking information” as such term is
defined in applicable Canadian securities legislation. The words
“may”, “would”, “could”, “should”, “potential”, “will”, “seek”,
“intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and
similar expressions as they relate to the Company, including,
Quipt executing on a robust acquisition plan for the remainder of
the year, are intended to identify forward-looking information.
All statements other than statements of historical fact may be
forward-looking information. Such statements reflect the Company’s
current views and intentions with respect to future events, and
current information available to the Company, and are subject to
certain risks, uncertainties and assumptions, including, the
Company successfully identified, negotiating and completing
additional acquisitions, including accretive acquisitions. Many
factors could cause the actual results, performance or
achievements that may be expressed or implied by such
forward-looking information to vary from those described herein
should one or more of these risks or uncertainties materialize.
Examples of such risk factors include, without limitation: credit;
market (including equity, commodity, foreign exchange and
interest rate); liquidity; operational (including technology and
infrastructure); reputational; insurance; strategic; regulatory;
legal; environmental; capital adequacy; the general business and
economic conditions in the regions in which the Company operates;
the ability of the Company to execute on key priorities,
including the successful completion of acquisitions, business
retention, and strategic plans and to attract, develop and
retain key executives; difficulty integrating newly acquired
businesses; the ability to implement business strategies and
pursue business opportunities; low profit market segments;
disruptions in or attacks (including cyber-attacks) on the
Company’s information technology, internet, network access or
other voice or data communications systems or services; the
evolution of various types of fraud or other criminal behavior to
which the Company is exposed; the failure of third parties to
comply with their obligations to the Company or its affiliates;
the impact of new and changes to, or application of, current laws
and regulations; decline of reimbursement rates; dependence on
few payors; possible new drug discoveries; a novel business model;
dependence on key suppliers; granting of permits and licenses in
a highly regulated business; the overall difficult litigation
environment, including in the U.S.; increased competition; changes
in foreign currency rates; increased funding costs and market
volatility due to market illiquidity and competition for funding;
the availability of funds and resources to pursue operations;
critical accounting estimates and changes to accounting standards,
policies, and methods used by the Company; the occurrence of
natural and unnatural catastrophic events and claims resulting
from such events; and risks related to COVID-19 including various
recommendations, orders and measures of governmental
authorities to try to limit the pandemic, including travel
restrictions, border closures, non-essential business closures,
quarantines, self-isolations, shelters-in-place and social
distancing, disruptions to markets, economic activity,
financing, supply chains and sales channels, and a deterioration
of general economic conditions including a possible national
or global recession; as well as those risk factors discussed or
referred to in the Company’s disclosure documents filed with
United States Securities and Exchange Commission and available at
www.sec.gov, and with the securities regulatory authorities in
certain provinces of Canada and available at www.sedar.com. Should
any factor affect the Company in an unexpected manner, or should
assumptions underlying the forward-looking information prove
incorrect, the actual results or events may differ materially
from the results or events predicted. Any such forward-looking
information is expressly qualified in its entirety by this
cautionary statement. Moreover, the Company does not assume
responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this
press release and the Company undertakes no obligation to
publicly update or revise any forward-looking information, other
than as required by applicable law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
For further information please visit our website
at www.Quipthomemedical.com, or contact:
Cole StevensVP of Corporate Development Quipt
Home Medical Corp.859-300-6455cole.stevens@myquipt.com
Gregory CrawfordChief Executive OfficerQuipt
Home Medical Corp.859-300-6455investorinfo@myquipt.com
Quipt Home Medical (TSXV:QIPT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Quipt Home Medical (TSXV:QIPT)
Historical Stock Chart
From Apr 2023 to Apr 2024