CPE News (8.19.2022) – LEAA Health Technologies Corp., a BCBCA company, has filed a preliminary prospectus for a proposed initial public offering (IPO) of up to 8,333,300 Subordinate Voting Shares at a price of $0.60 per Share for gross proceeds of up to $4,999,980.
LEAA Health Technologies intends to apply to list the Subordinate Voting Shares on the Canadian Securities Exchange (CSE).
The offering will be made by Canaccord Genuity Corp. on a commercially reasonable efforts basis. Cassels Brock & Blackwell LLP acts as legal counsel on behalf of LEAA while Boughton Law Corporation acts for the agent.
Vancouver based LEAA Health Technologies’ business will be the business of LEAA (US), Inc. LEAA Health Technologies has entered into an acquisition agreement with LEAA (USA) and its shareholders to acquire all of the issued and outstanding capital of LEAA (USA) not already owned.
LEAA (USA) acquired the LEAA Business from LEAA, LLC effective July 1, 2021, as part of a corporate restructuring in anticipation of the offering.
LEAA Health Technologies’ business, through LEAA, will be the coordination and facilitation of mobile medical concierge services connecting independent medical professionals (Providers) working with contracted independent physician organizations (MPODs) to provide medical services on demand to patients at a patient’s home, office or other requested location, on demand or at a convenient time specified by the patient. LEAA operates exclusively in the United States, and predominantly in the State of New York and the New York City metropolitan area.
Upon closing the offering, LEAA Health Technologies will have 51,097,201 Subordinate Voting Shares (assuming full offering and completion of LEAA acquisition, and no exercise of over-allotment option), and 38,746 Multiple Voting Shares.
LEAA co-founders, CEO Isaak N. Yakubov and COO Eli Lestat Ofel, will each own 50% of Multiple Voting Shares, which would exchange into 12,786,18019,373 Subordinate Voting Shares, representing 16.7% each of outstanding Subordinate Voting Shares as converted basis.
LEAA Health Technologies will continue to be led by Yakubov and Ofel as CEO and COO, and directors respectively.
photo credit: LEAA