CPE News (4/14/2021) – LifeSpeak Inc. has filed an amendment to its preliminary prospectus in connection with the proposed initial public offering (IPO) of common shares.
LifeSpeak anticipates to issue shares priced between $9.00 and $12.00 per share for aggregate gross proceeds of $125 million.
The offering will consist of a $90 million treasury offering and a $35 million secondary offering by selling shareholders including 25th Mile Capital Partners Inc., Michael McKenna, 451484 Ontario Inc., Evoke Solutions Incorporated, Grasshopper Holdings LP, Kensington LS Fund L.P., Krista Mussell, McLean Management Advisory Inc., Michael Held, Michael Held Family Trust, Michael Vanderkaden, NBFT Capital LP, Nolan Bederman, Nolan Bederman Family Trust, Round 13 Growth 2020 L.P., Roynat Capital Inc. and 2838091 Ontario Inc.
Assuming an offering size of $125 million and an offering price of $10.50 (the mid-point of the anticipated price range), upon completion of the pre-closing capital changes and the offering, LifeSpeak will have approximately 47.2 million common shares issued and outstanding.
Pre-IPO major shareholdings remain as follows:
Held Group/Michael Held – 10,242,504 common shares
Round 13 – 5,812,084 common shares
Bederman Group – 5,153,998 common shares
Kensington – 4,520,510 common shares
Roynat Capital – 3,228,936 common shares
Founded by Held, LifeSpeak is a leading software-as-a-service (SaaS) provider of digital mental health and total well-being education for mid- and enterprise sized organizations. LifeSpeak said it serves over 225 diverse clients globally, including Fortune 500 companies, government agencies, insurance providers and other health technology firms.
LifeSpeak has approximately 50 employees mainly working remotely. Besides its Toronto personnel, LifeSpeak has “team members” in Montreal, Vancouver, California, Texas, Nebraska, Illinois, North Carolina, South Carolina and sales resources in Ireland and Israel.
photo credit: LifeSpeak