WELL Health Announces Pricing of $150 Million Senior Unsecured Notes Offering
Rhea-AI Summary
WELL Health (OTCQX: WHTCF, TSX: WELL) has priced a private placement of $150 million aggregate principal amount of senior unsecured notes due 2031, bearing interest at 6.875% per annum and issued at par under a trust indenture.
According to WELL Health, net proceeds are intended to fully repay its convertible debentures maturing in December 2026 and for general corporate purposes, extending its debt maturity profile to 2031 and supporting growth in Canada. The notes will be direct senior unsecured obligations ranking pari passu with other senior unsecured debt. Closing is expected on or about July 15, 2026, subject to customary conditions, with a syndicate led by BMO Capital Markets and several other dealers.
Positive
- $150 million senior unsecured notes priced, due 2031 at 6.875%
- Proceeds earmarked to fully repay 2026 convertible debentures
- Debt maturity profile extended from 2026 to 2031
- Inaugural notes offering completed via syndicate of major capital markets banks
Negative
- New debt carries a fixed 6.875% annual interest cost
- Transaction closing remains subject to customary conditions as of July 13, 2026
News Explained
WELL has priced $150 million of debt due 2031 to refinance December 2026 debentures; closing remains pending and no equity dilution is disclosed.
On
Subject to completion, the proceeds are intended to repay in full WELL’s convertible debentures due December 2026 and fund general corporate purposes, replacing that near-term maturity with debt due in 2031 bearing interest of
The release describes a debt refinancing rather than an issuance of additional common shares, so it does not state a change to existing holders’ percentage ownership or disclose equity dilution.
A private placement is a sale of securities to selected investors outside a public offering; here, the notes are offered under Canadian exemptions and are not qualified for distribution to the public.
The notes would be direct senior unsecured obligations ranking equally in right of payment with WELL’s other present and future senior unsecured indebtedness.
The specific milestone is the expected July 15 closing: the stated repayment and use of proceeds remain subject to completion.
AI-generated analysis. How Rhea-AI works. Not financial advice.
- WELL has priced its inaugural offering of
$150 million of senior unsecured notes due 2031, bearing interest at6.875% per annum. - Net proceeds will be used to fully repay WELL's convertible debentures due December 2026 and for general corporate purposes.
- The Offering extends WELL's debt maturity profile to 2031 and strengthens the Company's balance sheet to support continued growth in Canada.
All amounts in Canadian dollars unless otherwise stated
Vancouver, British Columbia--(Newsfile Corp. - July 13, 2026) - WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (the "Company" or "WELL"), a digital health company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, today announced that it has priced a private placement offering (the "Offering") of
The Offering marks a significant step in strengthening WELL's balance sheet and lengthening its debt maturity profile. Proceeds will be used to refinance the Company's convertible debentures maturing in December 2026, providing the Company with a more durable capital structure to support its continued growth in Canada.
"This strongly supported financing reflects the strength and cash flow profile of our Canadian business and the confidence institutional investors have in WELL's strategy," said Hamed Shahbazi, Founder, Chairman and Chief Executive Officer of WELL. "By terming out our near-term maturities into a longer-dated instrument, we are proactively strengthening our balance sheet, extending our runway, and positioning WELL to continue building the infrastructure for a healthier Canada."
The Notes will be direct senior unsecured obligations of WELL and will rank equally in right of payment with all other present and future senior unsecured indebtedness of the Company. Closing of the Offering is expected to occur on or about July 15, 2026, subject to the satisfaction of customary closing conditions.
Use of Proceeds. Subject to completion of the Offering, WELL intends to use the net proceeds from the Offering (i) to fully repay its existing convertible debentures due 2026, and (ii) for general corporate purposes.
The Offering is being led by BMO Capital Markets, in a syndicate that also includes RBC Capital Markets, Stifel, J.P. Morgan and TD Securities as joint bookrunners, Scotiabank as co-lead manager, and CIBC Capital Markets and ATB Cormark Capital Markets as co-managers.
The Notes will be offered in each of the provinces of Canada on a private placement basis and will not be qualified for distribution to the public or registered under the securities laws of any province or territory of Canada. The Notes will be offered only in the provinces of Canada pursuant to applicable exemptions from the prospectus and registration requirements thereunder. The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to any U.S. persons.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL Health Technologies Corp.
WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) is Canada's largest outpatient healthcare company and a leading provider of technology-enabled healthcare solutions. WELL is building the infrastructure for a healthier Canada, where every patient gets better care, every provider is empowered by AI, and every piece of health data is protected. WELL owns and operates approximately 270 clinics in Canada, supporting more than 5 million annual patient visits. Through its subsidiary WELLSTAR, WELL provides electronic medical records, AI-powered clinical tools, patient engagement platforms and IT management services. WELL provides cybersecurity services through its CYBERWELL subsidiary. WELL is publicly traded on the TSX under the symbol "WELL" and on the OTC Exchange under the symbol "WHTCF". To learn more, please visit: www.well.company.
Forward-Looking Statements
This news release may contain "Forward-Looking Information" within the meaning of applicable Canadian securities laws, including, without limitation, statements with respect to the completion and the use of proceeds of the Notes offering. Forward-Looking Information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information, and the Forward-Looking Information is not a guarantee of future performance. WELL's statements expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties and conditions, many of which are outside of WELL's control, and undue reliance should not be placed on such information. Forward-Looking Information is qualified in its entirety by inherent risks and uncertainties, including: adverse market conditions and the ability to complete acquisitions; risks inherent in the primary healthcare sector in general; continued patient and consumer demand for WELL's products and services; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL; and other risk factors identified in documents filed by WELL under its profile at www.sedarplus.ca, including its most recent Annual Information Form. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.
Neither the TSX, the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSX or TSXV, respectively) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Pardeep Sangha
Vice President, Investor Relations
investor@well.company
604-628-7266
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304908