WELL Health Redeems $70 Million 5.50% Convertible Debentures

Rhea-AI Summary

WELL Health Technologies (TSX: WELL, OTCQX: WHTCF) redeemed early all of its outstanding 5.50% convertible senior unsecured debentures due December 31, 2026. On August 19, 2026, the company paid holders in cash and the debentures ceased trading and were delisted from the TSX.

The redeemed debentures, previously trading under symbol WELL.DB, had an aggregate principal of $70 million. Holders received $1,007.3333 per $1,000 principal, including $7.3333 of accrued interest. According to WELL Health, the redemption was funded with cash on hand, supported by its inaugural $150 million senior unsecured notes offering completed in July.

Positive

• $70 million convertible debentures fully redeemed before December 31, 2026 maturity
• Redemption price of $1,007.3333 per $1,000 principal, all paid in cash
• Redemption funded from cash on hand, indicating available liquidity
• Prior $150 million senior unsecured notes offering expanded capital resources

Negative

• Use of $70 million cash on hand reduces immediate cash balances
• $150 million senior unsecured notes introduce new senior debt obligations

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• WELL Health redeemed early all of its outstanding 5.50% convertible senior unsecured debentures on August 19, 2026.

Vancouver, British Columbia--(Newsfile Corp. - August 20, 2026) - WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) (the "Company" or "WELL"), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, redeemed early all of its outstanding 5.50% convertible senior unsecured debentures due December 31, 2026 (the "Debentures"). The Debentures were redeemed by WELL on August 19, 2026 (the "Redemption Date") in accordance with the terms of the Debenture trust indenture. The Debentures were listed on the Toronto Stock Exchange under the symbol WELL.DB and ceased trading at the opening of trading on the Redemption Date and were delisted at the close of trading on the Redemption Date. The aggregate principal amount of the Debentures outstanding was $70,000,000.

On the Redemption Date, WELL paid holders of the Debentures a redemption price equal to $1,007.3333 per $1,000 principal amount of Debentures, in cash, representing $1,000 principal amount and $7.3333 for accrued and unpaid interest up to but excluding the Redemption Date. WELL used cash on hand to pay the redemption price of the redeemed Debentures.

Hamed Shahbazi, Chairman and CEO of WELL, commented "The successful closing of our inaugural $150 million senior unsecured notes offering in July gave us the capital to retire these debentures on our terms, well ahead of maturity. This redemption reflects the continued strength of our balance sheet and reinforces our disciplined, accretive capital allocation strategy."

Formal notice of redemption was delivered to the Debenture holders through the Debenture Trustee, Computershare Trust Company of Canada, in accordance with the trust indenture. Beneficial holders of the Debentures are encouraged to contact their investment dealer if they have any questions about the redemption.

All dollar amounts in this release are expressed as Canadian dollars.

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 275 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.

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/310595

FAQ

What did WELL Health (WHTCF) announce about its 5.50% convertible debentures on August 20, 2026?

WELL Health announced it redeemed all outstanding 5.50% convertible senior unsecured debentures on August 19, 2026. According to WELL Health, the debentures were due December 31, 2026 and were fully settled in cash, eliminating this convertible instrument from its capital structure.

What was the redemption price for WELL Health’s 5.50% convertible debentures (WHTCF)?

The redemption price was $1,007.3333 per $1,000 principal amount of debentures. According to WELL Health, this reflected the $1,000 principal plus $7.3333 of accrued and unpaid interest up to, but excluding, the August 19, 2026 redemption date.

How much principal of WELL Health’s 5.50% convertible debentures was redeemed?

WELL Health redeemed an aggregate principal amount of $70,000,000 of its 5.50% convertible senior unsecured debentures. According to WELL Health, the full outstanding balance was retired in cash on August 19, 2026, in line with the terms of the debenture trust indenture.

How did WELL Health (WHTCF) fund the redemption of its 5.50% convertible debentures?

WELL Health funded the redemption using cash on hand. According to WELL Health, capital from its inaugural $150 million senior unsecured notes offering completed in July provided the resources needed to retire the debentures ahead of their December 31, 2026 maturity.

What happened to WELL Health’s debentures trading under TSX symbol WELL.DB?

The debentures trading under TSX symbol WELL.DB ceased trading at the opening on August 19, 2026. According to WELL Health, they were delisted at the close of that trading day following the full cash redemption of the outstanding principal.

What does the debenture redemption mean for WELL Health’s capital structure and WHTCF investors?

The redemption removes a 5.50% convertible instrument from WELL Health’s capital structure. According to WELL Health, this action followed a $150 million senior unsecured notes offering and reflects its approach to managing funding sources and balance sheet flexibility for shareholders.